Western Forest Products Inc. and Tla’amin Nation have reached an agreement that will see the Indigenous nation acquire full ownership of Western’s Stillwater Forest Operation near Powell River, British Columbia, in a transaction valued at $80 million.
The deal covers the assets comprising Block 1 of Tree Farm Licence 39, a tenure spanning roughly 154,000 hectares, most of it located within Tla’amin traditional territory. Once the transaction closes, the assets will be held by Qwoqwnes Forestry Holdings Limited Partnership, an entity owned and controlled by the Tla’amin Nation.
Under the agreement, Qwoqwnes—operating through Thichum Forest Products—will manage an allowable annual cut of about 469,200 cubic metres. A long-term fibre supply agreement will ensure that timber harvested from the tenure continues to support Western’s coastal manufacturing operations in British Columbia. Western will also provide transition services following closing to support continuity of operations.
For the Tla’amin Nation, the acquisition marks a significant step in restoring stewardship over its lands. Chief and Economic Development Board member John Hackett said the transaction brings a substantial portion of Tla’amin territory back under Indigenous control and enables land management aligned with community values and long-term interests.
Thichum Forest Products General Manager Adam Culos described the deal as a strategic fit with the Nation’s Quadruple Bottom Line approach, citing opportunities for value-added manufacturing, local employment, and regional economic returns, alongside commitments to environmental stewardship and cultural responsibility.
From Western’s perspective, the transaction aligns with its broader strategy to focus on higher-value manufacturing while maintaining balance sheet strength in a challenging operating environment. President and CEO Steven Hofer said the agreement reflects Western’s ongoing commitment to building long-term, mutually beneficial partnerships with Indigenous communities.
Completion of the transaction remains subject to customary closing conditions, including financing and approvals related to subdivision and tenure transfer from British Columbia’s Ministry of Forests. The parties are working toward closing later this year.
The Tla’amin Nation is a self-governing modern treaty nation with significant land holdings in British Columbia’s qathet region. The Tla’amin Treaty with Canada and British Columbia came into force in 2016. Tla’amin people have stewarded the land and sea for millennia, guided by Tla’amin law and respect for the natural world.
Western Forest Products Inc. is an integrated forest products company focused on high-value logs and lumber for global softwood markets. Operating primarily on the coast of British Columbia and in Washington State, the company runs five sawmills, four remanufacturing facilities, and two glulam plants, supported by long-term licences, First Nations partnerships, and market purchases.
Source: Western Forest Products
