Published:
Views: 4895

Market Watch: Rayonier to Acquire 250,000 Acres

Rayonier (RYN) has signed an agreement to acquire some 250,000 acres of timberlands from Joshua Timberlands LLC and Oklahoma Timber LLC for $330 million. Timberlands included in the sale are located in located in Alabama, Mississippi, Louisiana, and Oklahoma. “The

Timberland

Rayonier (RYN) has signed an agreement to acquire some 250,000 acres of timberlands from Joshua Timberlands LLC and Oklahoma Timber LLC for $330 million. Timberlands included in the sale are located in located in Alabama, Mississippi, Louisiana, and Oklahoma.

“The quality and location of these timberlands make them an excellent strategic fit for Rayonier. This transaction is a major step forward in our strategy to grow and diversify Rayonier’s timberland ownership while allowing for further expansion of our rural land sales program,” said Lee M. Thomas, Rayonier’s chairman and chief executive officer.

Once the deal closes, the Jacksonville-based company will own, lease, or manage 2.7 million acres of timber and land in the U.S. and New Zealand. Rayonier reported net income of $56 million in the second quarter of 2011, an increase of nearly 44 percent from $39 million in the second quarter of 2010.

Read the complete press release and learn more about Rayonier HERE.

Posted in Equities, Feature, South, Southwest, Timber

0 comments on “Market Watch: Rayonier to Acquire 250,000 Acres

1 Pings/Trackbacks for "Market Watch: Rayonier to Acquire 250,000 Acres"

  1. […] Market Watch: Rayonier to Acquire 250000 Acres | LandReport.comSep 23, 2011 … This transaction is a major step forward in our strategy to grow and diversify Rayonier’s timberland ownership while allowing for further … […]

EMAIL SIGNUP

Please sign me up to receive breaking news and updates from the Land Report!

Latest Tweets

News By Region

The Land Report | 2019 America's Best Brokerages
The Land Report is proudly partnered with: Hall and Hall Bates Land Consortium Mossy Oak Properties United Country Real Estate Live Water Properties Fay Ranches Inc. Mirr Ranch Group californiaoutdoorproperties.com Whitetail Properties TerraStone Land Company Hayden Outdoors Real Estate Western Ranches LandLeader

Contact to Listing Owner

Captcha Code
Pacific West Great Plains Great Lakes Midwest Southwest South Northeast Pacific West Great Plains Great Lakes Midwest Southwest South Northeast