OneFortyOne Announces Largest Australian Forestry Land Acquisition in a Decade

OneFortyOne, one of Australia’s leading forestry and sawmill businesses, announced that it has completed the acquisition of the former New Forests managed Limestone Coast plantation forestry estate. The acquisition, completed on May 30, marks a significant milestone in Australian forestry investment.

OneFortyOne CEO Wendy Norris said the acquisition represents the first investment in forestry of this scale by an Australian company in the past decade.

“We are thrilled to expand our Green Triangle, Australian plantation forestry estate by 15%, adding close to 15,000 hectares (37,000 acres) of plantable area,” Norris said.

The acquisition includes approximately 14,800 hectares (36,600 acres) of mixed hardwood (bluegum) and softwood (radiata pine) plantation resource or plantable area, within a total of 20,500 hectares (50,700 acres) of associated freehold land in the Green Triangle region and in Western Australia. New Forests has invested in the Limestone Estate since 2014, and the sale forms part of its Australia New Zealand Forestry Fund 2’s divestment process.

SFM, the current property manager of this asset, will continue to provide hardwood and carbon-related management services to OneFortyOne, across the estate for the foreseeable future.

“This is a significant acquisition for OneFortyOne and for the future potential of Australian softwood production,” Norris added.