Canfor has agreed to acquire the I-joist business of Calgary-based PinkWood Ltd. for $68.0 million, including working capital, expanding its engineered wood products footprint.
Founded in 2009, PinkWood operates the largest I-joist manufacturing facility in Western Canada. The company produces engineered wood joists for residential, multi-family, and commercial construction and employs approximately 120 people. Its Calgary facility has an annual production capacity of 46 million linear feet.
The purchase price represents approximately five times EBITDA, including identified synergies. Canfor said recent capital investments at the facility support further production growth and margin expansion.
Under the terms of the agreement, $55.0 million will be paid at closing, with the remaining $13.0 million payable over five years. Canfor expects to finance the acquisition using cash on hand and available liquidity.
“PinkWood is a leading manufacturer of high-quality I-joists with a strong management team and stable returns,” said Susan Yurkovich, President and CEO of Canfor. “Canfor’s acquisition of PinkWood complements our operations in Western Canada by enhancing product diversification and supporting the continued expansion of our value-added manufacturing capabilities. We are pleased to welcome the PinkWood team and believe this acquisition will strengthen our existing asset base and create opportunities for growth and value creation.”
Following the transaction, PinkWood will retain its name and operate as a wholly owned subsidiary of Canfor.
The acquisition is expected to close in the third quarter of 2026, subject to customary closing conditions.
The deal further diversifies Canfor’s portfolio beyond traditional lumber and increases its exposure to the engineered wood segment, a market supported by growing demand for efficient, lower-carbon building systems across North America.
Canfor is a global manufacturer of high-value, low-carbon forest products, including lumber, engineered wood products, pulp and paper, wood pellets, and renewable energy. Headquartered in Vancouver, British Columbia, the company operates more than 50 facilities across Canada, the United States, and Europe and holds a 77% ownership stake in Sweden-based Vida AB.
