Weyerhaeuser’s lumber mill in Princeton. Photo credit: Weyerhaeuser
WEST KELOWNA – Weyerhaeuser’s lumber mill in Princeton has been purchased by the Gorman Group, which owns the West-Kelowna based Gorman Bros. Lumber Ltd. wood products manufacturing facility, for $120 million.
The transaction includes the Weyerhaeuser manufacturing facility and all associated timber license assets in B.C. Gorman Bros. Lumber is currently the largest customer of the Princeton mill. The Gorman Group also has offices and facilities in Washington state, and has operated in Canada for over 75 years.
“Weyerhaeuser’s Princeton operation will be a natural fit with the Gorman Group,” says Gorman Group CEO Nick Arkle. “We’ve had a strong connection to the Princeton operation for many years, and we know firsthand the skill, commitment and quality that define its team. We’re delighted to welcome this mill and its people into the Gorman Group family, as this move will strengthen our company, support the sustainability of good jobs in our communities and help us continue developing the world-class wood products we’re known for.
“This really will be a case of the whole being stronger than the sum of its parts. We’re looking forward to working together with First Nations, governments, communities and all our employees to make this a B.C. success story.”
The Gorman Group, founded in 1951, is a multi-generational family owned and operated company comprised of four divisions in the southern province (two sawmills, a remanufacturing plant, a plywood plant, and a pole plant) and one remanufacturing plant division in northern Washington state, and directly employs 900 employees.
The transaction is subject to customary closing conditions, including regulatory review, with the sale of the mill expected to be completed in third-quarter 2025, and the forest tenures to follow over the ensuing months. Weyerhaeuser’s other operations in Canada will not be affected by this transaction, and the company will continue to operate the Princeton mill independently of the Gorman Group until the transaction closes.
“We are grateful to all the dedicated employees who contributed to the success of our Princeton operations over the years,” says Weyerhaeuser President and CEO Devin W. Stockfish. “The community has always been incredibly welcoming and supportive of our mill and people, and it was important for us to sell to a local buyer with deep roots in the region.
“Gorman has been a great customer and strategic partner, and we believe this will be a seamless transition that will position the mill for future success in a challenging operating environment — providing long-term certainty for the mill and the broader community.”
Weyerhaeuser Company is. one of the world’s largest private owners of timberlands, began operations in 1900 and today owns or controls approximately 10.4 million of acres of timberlands in the U.S., as well as additional public timberlands managed under long-term licenses in Canada.
Weyerhaeuser is also one of the largest manufacturers of wood products in North America and operates additional business lines around product distribution, climate solutions, real estate, energy and natural resources, among others. In 2024, the company generated $7.1 billion in net sales and employed approximately 9,400 people who serve customers worldwide.
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