Domtar has signed a purchase agreement with Cranberry Business Park Ltd. for the remaining portion of the former tiskwat paper mill lands in Powell River, British Columbia, marking a new chapter in the site’s transformation.
The agreement completes Domtar’s divestment of the former mill property, with the first portion already returned to the Tla’amin Nation earlier this year through a landmark agreement focused on reconciliation.
Cranberry Business Park, led by a team of experienced entrepreneurs including Okanagan-based businessman Sonny Huang, plans to revitalize the waterfront site with a vision of long-term economic development.
“With waterfront access and energy infrastructure, this site has immense potential,” said Craig Austin and Thomas Logocki of Cranberry Business Park. “We are proud to contribute to the economic future of Powell River and to work alongside our neighbours at tiskwat, the Tla’amin Nation.”
Carlo Dal Monte, vice-president of Legacy Assets at Domtar, emphasized the importance of finding a buyer committed to community benefit. “It was a priority for us to ensure these lands continue to support jobs and economic growth in the region,” he said.
The closing of the transaction is expected later this year, pending standard regulatory approvals.
Domtar, formerly known as Paper Excellence, operates over 60 sites across North America and is a major producer of pulp, paper, packaging, and lumber. This sale aligns with the company’s reconciliation-focused approach to engaging with Indigenous communities.
