Acquisitions · Building materials (engineered wood)
Daiken buys 51% of US engineered-wood maker Pacific Woodtech from Itochu
- Buyer
- Daiken Corp. (Osaka)
- Target
- Pacific Woodtech Corp. (51%), Burlington, Washington
- Value
- About ¥2.1B
- Status
- Agreed on February 25, 2019; completed in 2019.
- Date
- 2019-02-25
Daiken Corp. agreed to buy 51% of Pacific Woodtech Corp., an engineered-wood products maker in Burlington, Washington, for about ¥2.1 billion. The seller was Itochu, so the deal moved a US company from one Japanese owner to another. In the same deal, Daiken also bought CIPA Lumber in Canada for about ¥10.9 billion.
Why it matters
The deal gave Daiken, a maker of housing materials, a production base in North America's market for engineered wood used in building.
Sources
Kakehashi M&A News home
