Sumitomo Forestry bought Teal Jones Louisiana Holdings, owner of a sawmill in Plain Dealing, Louisiana, from Canada's Teal Jones group, which was going through a court-supervised restructuring. The price was first set at about ¥6.2 billion ($42 million) and was cut to about ¥4.3 billion ($29 million) at closing. The mill can make about 300 million board feet of lumber a year. A mill at a discount The holding company was formed in November 2021 and had barely started selling lumber, with revenue of just $33,000 in 2024. At the end of 2024 it had total assets of about $175 million and net assets of about $93 million, well above the final price Sumitomo Forestry paid. How the deal worked Because the Teal Jones group was restructuring under Canada's Companies' Creditors Arrangement Act, the sale needed approval from a Canadian court and a US bankruptcy court under Chapter 15. Sumitomo Forestry bought the business through a new company, WPM Holdco, based in Addison, Texas.
