AKD, a proud Australian forestry and timber processing company is pleased to confirm that it will acquire Pentarch Forestry’s 50% shareholding of Highland Pine Products Pty Ltd (HPP).
HPP is currently a 50:50 joint venture business owned by AKD and Pentarch Forestry, with the primary asset being the Oberon sawmill. The sawmill processes over 500,000 m3 of plantation grown sawlogs and produces a range of structural, landscape and packaging products.
Post this acquisition, AKD will process nearly 2,000,000 m3 of sawlog per annum, producing over 1,000,000 m3 of timber from the Colac, Caboolture, Oberon, Tumut and Yarram sawmills.
Commenting on the acquisition, AKD’s Chief Executive Officer, Shane Vicary said, “the Oberon acquisition is consistent with AKD’s focus on operating high quality, strategically located sawmills, and represents an opportunity to provide an improved supply and product range for customers and the broader timber supply chain.
As a joint venture partner in the business since 2018, AKD has had an opportunity to work with the talented team in Oberon and see the opportunities that exist on the site and in the region and we are excited about the future.
We are looking forward to working directly with the Oberon team as we welcome them to the broader AKD business of over 1000 employees.
The acquisition enhances our ability to service both existing and new customers and we look forward to strengthening relationships with suppliers and continuing to provide a positive contribution to the Oberon community”.
AKD would like to acknowledge and thank Pentarch for their positive and constructive contribution to the HPP partnership and wishes it success for the future.
The acquisition is consistent with AKD’s approach of growth through a mix of strategic acquisition and capital investment and further highlights our 70-year commitment to the Australian timber and building industries by investing for the future.
Completion of the transaction is expected to occur on 1 July 2025.