Boise Cascade Acquires Engineered Lumber Unit From Georgia-Pacific For $215 Million

Boise Cascade Co BCC, a plywood and engineered wood products manufacturer and materials distributor, has agreed to acquire Georgia-Pacific's engineered lumber business for $215 million. Georgia-Pacific, a Koch Industries subsidiary, is one of the largest manufacturers and distributors of tissue, pulp, paper, toilet paper and paper towel products. The company's Vice President noted in a press release that while its lumber business has been profitable, it is not a core segment and part of its overall building products division. "We believe this potential sale to an established player in the industry is in the best interest of our engineered lumber employees, customers and stakeholders," Mark Luetters, Georgia-Pacific's Executive Vice President commented in the press release.