Sumitomo Forestry America Acquires Teal Jones Louisiana Holdings Sawmill

On Friday, Sumitomo Forestry Co., Ltd. announced that its Board of Directors has agreed to acquire 100% of the shares of Teal Jones Louisiana Holdings LLC (TJLH) through its wholly owned subsidiary Sumitomo Forestry America, Inc. (SFAM) and will begin the procedures to make TJLH a consolidated subsidiary.

The acquisition will be carried out in accordance with procedures outlined under the Companies’ Creditors Arrangement Act of Canada and Chapter 15 of the US Bankruptcy Code. It is subject to approval by the courts of Canada and the United States.

Following the completion of all due diligence, SFAM hopes to complete the acquisition by the second quarter of FY2025. In addition, since TJLH’s capital is more than 10% of Sumitomo Forestry’s capital, TJLH will become a specified subsidiary of Sumitomo Forestry.

Teal Jones-Plain Dealing, LLC (TJPD) is a sawmill located in Louisiana and a consolidated subsidiary of TJLH. Sumitomo Forestry will make TJPD a wholly owned subsidiary with the aim to expand its business and build a stable materials supply system for its overseas housing business and real estate business through sawmill operations in the US South and the sale of wood lumber products, such as dimensional lumber.