TOMAHAWK, Wis. – The Forestland Group, LLC (TFG) and Plum Creek Timber Company, Inc. today announced the purchase and sale of approximately 100,000 acres of Wisconsin land. Through the purchase, an investment vehicle managed by TFG, a long-term timberland investment management organization, will take ownership of approximately 100,000 acres of Plum Creek’s land primarily in Rusk, Sawyer and Oneida counties with small amounts of the acreage also spreading into Price, Langlade and Forest counties. The land is being sold in large-size timberland tracts.
With the purchase TFG will obtain its first Wisconsin timberlands. The organization currently owns timberland in 18 states, with its properties closest to Wisconsin being in Michigan. Once the sale is complete, Plum Creek will remain the largest private landowner in the state of Wisconsin, owning approximately 400,000 acres of timberland in the northern part of the state.
“These lands are valuable timberlands that have been well-managed by Plum Creek, and this purchase gives us the opportunity to enter Wisconsin and participate in the state’s forest products industry,” said Chris Zinkhan, Managing Director of TFG. “We look forward to helping grow and contribute to Wisconsin’s economy and to serving Wisconsin customers in the coming years.”
“We welcome Forestland Group as the newest member of a diverse, active and committed group of companies and individuals who make up Wisconsin’s historic and important forest products industry,” said Lynn Wilson, General Manager of Plum Creek’s Lake States Region.
The Forestland Group is the largest private owner of hardwood timberlands in the United States. The company controls 2.7 million acres of timberlands in the United States and Latin America. Prior to this acquisition, the company controlled approximately 500,000 acres in the Great Lakes States. The Forestland Group was the first TIMO in the world to have its entire portfolio Forest Stewardship Council certified.
Plum Creek is the largest and most geographically diverse private landowner in the nation, with 8.2 million acres of timberlands in major timber producing regions of the United States and 10 wood products manufacturing facilities in the Northwest. In Wisconsin, Plum Creek practices sustainable forestry on forestland in 28 counties throughout the state and has offices in Tomahawk, Hayward and Wisconsin Rapids. The company is active in Wisconsin’s biomass industry, supports the Plum Creek Foundation and its Wisconsin grants, and is in active partnership with many conservation groups in the state. For more information on Plum Creek in Wisconsin, visit www.plumcreek.com/wisconsin.