The sale by Rayonier effectively sees it exit the wood products sector to concentrate its operations on the specialty chemicals sector.

“We are delighted with this opportunity to transition our wood products operations to a world-class company focused on lumber and wood products manufacturing,” said Paul Boynton, Rayonier’s CEO.

The three mills in Georgia have a combined annual capacity of 360 million board feet of southern pine dimension lumber.

“We have been looking for an opportunity in the south-east for some time and consider this an ideal time to proceed,” said Interfor’s CEO Duncan Davies.

The acquisition, subject to regulatory approval, involves hiring all existing 260 Rayonier staff at the mills.