Sierra Pacific Industries (SPI) plans to acquire Seneca and affiliates, combining two complementary, family-owned forest products businesses.
Both SPI and Seneca have a strong focus on sustainable tree management, also managing their timberland for thriving wildlife, healthy watersheds and soils, and world-class recreation.
Seneca CEO Todd Payne says, “At Seneca, we grow more than we harvest annually. We have 92% more timber on our land today than we had 25 years ago. SPI also grows more than they harvest. Under their forest management plan they expect to have more large trees on their timberlands 100 years from now than they have today.”
The transaction is subject to continuing due diligence and customary regulatory approvals, with the sale expected to close by the end of the 3Q 2021.
Founded in 1953, Seneca operates a 175,000-acre sustainably-managed tree farm, sawmills, and a biomass plant in Oregon.
SPI, a leading lumber producer that manages over 2.1 million acres of timberland in California and Washington, as well as manufactures millwork, windows, and renewable energy.
