Roseburg announced today that it has completed the purchase of approximately 30,000 acres of timberland in the southern United States from Forest Investment Associates.
The properties are located in the northeast region of North Carolina and the southeast region of Virginia, and consist of well-managed loblolly pine plantations.
Roseburg already owns 158,000 acres of timberland in the Roanoke Valley, following a 2017 acquisition.
“The addition of these high-quality properties to our existing Roanoke Tree Farm allows us to add more scale and operational efficiency to our southeastern timber operations,” Roseburg Senior Vice President of Resources Scott Folk said.
The most recent acquisition follows the July 1 announcement of Roseburg’s plan to build a new, high-capacity sawmill in nearby Weldon, to be called Roanoke Valley Lumber. “Our model of vertical integration – owning and operating both the manufacturing facilities and the timberlands that supply them – sets us apart from most of our competitors and provides long-term stability for the company and certainty of supply for our clients,” Roseburg President and CEO Grady Mulbery said. “We continuously look for ways to leverage and align our operational expertise with our resource ownership to maximize efficiency and meet customer expectations.”
Prior to the purchase, as of June 30, FIA had 93,458 acres under management in North Carolina and another 80,449 in Virginia.
As of December 31 of last year, FIA had 887 transactions closed representing 1.5 million acres with a total value of $3.5 billion, according to its website.