Western Forest Products Inc. (TSX:WEF) entered into an agreement to acquire assets of Calvert Company, Inc. for $12.2 million on July 19, 2022. The consideration included inventory of $2.5 million, subject to a customary post-closing inventory adjustment. The transaction shall be financed with cash on hand by Western. Post deal completion, Doug Calvert shall remain with Western in a consulting capacity. As part of the transaction, Western has created a new engineered wood subsidiary, WFP Engineered Products LLC which will remain focused on further growth opportunities throughout the entire Mass Timber value chain. Completion of the transaction is subject to satisfaction of customary closing conditions and is expected to close in the third quarter of 2022. The operations were immediately accretive to EBITDA.

Western Forest Products Inc. (TSX:WEF) completed the acquisition of assets of Calvert Company, Inc. from Calvert Co., Inc. on August 31, 2022.