Yorkcor will pay R1.694bn (US$235m) for 100% of GFP and will take on the company’s plywood plant and three large sawmills, as well as it natural resources.
GFP owns 56,805ha of certified plantation forests, which generate between 600,000-700,000m3 of pine logs per year.
In addition, it owns 29,101ha of land used for conservation projects, natural heritage sites and roads and access routes.
According to Yorkcor, the takeover of GFP will “materially enhance” the company’s sawmilling capacity and secure its position as “a leading domestic forestry resource company” in South Africa.
