VANCOUVER—The second-largest timberland operator in New Brunswick and Maine says it’s looking for a buyer for some or all of its assets.
Acadian Timber Corp. says its board of directors has begun a review of strategic alternatives that could include a sale, merger or other transaction.
The company, which has its head office in Vancouver, manages more than 950,000 hectares in total—including more than 500,000 hectares of Crown land in New Brunswick.
It also owns more than 400,000 hectares of freehold lands in New Brunswick and Maine and a forest nursery in Second Falls, N.B.
Acadian says Scotiabank has been hired to advise the board, but noted that there’s no guarantee that the review will result in a transaction.