Mirax Group Agrees to Acquire Lyle Forest Products
Mirax Group to Acquire Lyle Forest Products in Chilliwack, BC
The Mirax Group, headquartered in Abbotsford, BC, announced today (1-24-23) that it had reached an agreement to acquire Lyle Forest Products, located in Chilliwack, BC. In business since 1972, Lyle Forest Products is a premier value-added lumber facility dealing in Pacific Hemlock and Western Red Cedar. Lyle produces paneling, moulding, finished boards, and engineered wood products.
According to the press release, the acquisition brings Mirax Group one step closer to becoming a more vertically integrated forest company in BC. The addition of Lyle to Mirax Group is consistent with the group’s value-added business model to further enhance and diversify investment locally in BC and produce high quality finished products ready to be shipped globally, the statement said.
The new division will operate as Lyle Specialty Forest Products Ltd., with Mirax Group’s sister-company Jazz Forest Products being the sole distributer for Lyle products. The completion of the transaction is subject to customary conditions and is expected to close by the end of February 2023.
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