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Acadian Timber considers sale of its assets in N.B., Maine or other alternatives

VANCOUVER – The second-largest timberland operator in New Brunswick and Maine says it’s looking for a buyer for some or all of its assets.

Acadian Timber Corp. (TSX:ADN) says its board of directors has begun a review of strategic alternatives that could include a sale, merger or other transaction.

The company, which has its head office in Vancouver, manages more than 950,000 hectares in total — including more than 500,000 hectares of Crown land in New Brunswick.

It also owns more than 400,000 hectares of freehold lands in New Brunswick and Maine and a forest nursery in Second Falls, N.B.

Acadian says Scotiabank has been hired to advise Acadian’s board, but noted that there’s no guarantee that the review will result in a transaction.