Pacific Woodtech Corporation agreed to acquire Engineered Wood Products Business and SolidStart Brand from Louisiana-Pacific Corporation (NYSE:LPX) for $210 million on June 21, 2022. LP's Engineered Wood Products Business employees will join Pacific Woodtech. The transaction is subject to customary closing conditions and regulatory approval including the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the Competition Act (Canada), as amended, and other customary closing conditions and deliverables.

Transaction is expected to close in the third quarter of 2022. UBS Investment Bank acted as financial advisor to Louisiana-Pacific Corporation. Troutman Pepper and Fasken Martineau DuMoulin LLP acted as legal advisor to Louisiana-Pacific Corporation.

Cleary Gottlieb Steen & Hamilton LLP acted as a legal advisor to Louisiana-Pacific engineered wood products business.