New Forests to Acquire AKD Plantation Forestry Assets in Australia

New Forests has announced that its Australia New Zealand Landscapes and Forestry Fund (ANZLAFF), together with an institutional co-investment partner, agreed to acquire the plantation forestry assets of AKD, Australia’s largest softwood sawmilling business, Timberbiz reported (10-16-26). The transaction remains subject to regulatory approvals.

The AKD estate comprises 57 radiata pine plantations spanning more than 13,000 hectares (32,124 acres) across Victoria, South Australia, and New South Wales.

AKD employs more than 900 people across regional Australia and produces more than 1 million m³ of timber products annually, accounting for approximately 20–25% of Australian production. AKD will retain ownership and operation of its sawmilling business.

In January 2025, New Forests announced the final close of ANZLAFF, having raised almost $600 million from institutional investors across Asia Pacific and Europe.

Commenting on the agreement, AKD CEO Shane Vicary said:

“This investment marks an exciting new chapter for AKD’s plantation estate. We look forward to working with New Forests to maintain a long-term connection with the estate through agreements for the supply of sawlogs and pulp log. In the meantime, we continue to invest in our people, operations. and regional communities and supply high-quality Australian-grown timber to our customers.”

David Shelton, Managing Director, Australia and New Zealand at New Forests, added:

“AKD is a high-quality business operating at significant scale within a strategically important part of Australia’s forestry and wood products supply chain. The acquisition of AKD’s plantation estate provides our investors with exposure to high quality, sustainably managed plantations across key forestry regions in Australia. We see strong long-term fundamentals for sustainably produced timber, supported by Australia’s growing demand for housing and renewable building materials.”