Millar Western Forest Products Ltd. entered into an agreement to acquire Two Pulp Mills in Western Canada from West Fraser Timber Co. Ltd. (TSX:WFG) for $120 million on September 22, 2023. The mills include Quesnel River Pulp mill in Quesnel, British Columbia and its Slave Lake Pulp mill in Slave Lake, Alberta to Atlas. The agreement announced today includes related woodlands operations and timber holdings in Alberta and a long-term fibre supply agreement for the Quesnel River Pulp facility. Upon closing of the transaction, the Quesnel River and Slave Lake pulp mills will be operated by Millar Western Forest Products. The transaction is anticipated to close following successful completion of customary regulatory reviews and satisfaction of customary closing conditions. TD Securities Inc. is acting as exclusive financial advisor and McMillan LLP is acting as legal advisor to West Fraser. Davies Ward Phillips & Vineberg LLP is acting as legal advisor to Atlas.

Millar Western Forest Products Ltd. completed the acquisition of Two Pulp Mills in Western Canada from West Fraser Timber Co. Ltd. (TSX:WFG) on April 22, 2024.