New Forests and an institutional client have jointly acquired the 156,000-acre Hilt-Siskiyou Forest, along the California and Oregon border, from the Fruit Growers Supply Company (FGS) for an undisclosed sum.
The acquisition is part of the Sydney-based company’s plan to deploy at least US$500m (€425m) in capital for multiple clients in US forests over the next 24 months.
The global timberland manager said it was actively considering additional investments in the Pacific Northwest, Lake States, New England, and Appalachia.
Jon Loevner, director of US investments at New Forests, said: “We look forward to continuing FGS’s tradition of stewardship of this forest, including maintenance and protection of critical wildlife habitat and watersheds.”
FGS, a sister organisation to the Sunkist citrus growers’ cooperative, has owned and operated core areas of the Hilt-Siskiyou Forest for over a century.
Brian Shillinglaw, managing director of New Forests’ US business, said: “New Forests’ vision is to see the forestry sector play a key role in the transition to a sustainable future – providing a sustainable supply of renewable materials, removing carbon from the atmosphere, and sustaining jobs and shared prosperity in rural economies.
“We bring this investment and stewardship mindset to our forestry investments in California and across the United States.”
Aside from the Hilt-Siskiyou acquisition, New Forests has been investing in the broader Klamath River watershed region.
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