Canfor Corp. of Vancouver said it has completed its previously announced $93.5 million purchase of Anthony Forest Products Co. of El Dorado.
Canfor is buying five manufacturing facilities — two in El Dorado and one each in Georgia, Texas and Louisiana — and Anthony's half-interest in an I-joist plant in Sault Ste. Marie, Ontario.
"We are pleased to welcome Anthony Forest Products Company to our Southern Pine family which will add to the variety of quality products offered to our customers," Don Kayne, Canfor president and CEO, said in a news release.
Anthony Forest Products ranked No. 67 on Arkansas Business' most recent list of the state's largest private companies with self-reported revenue of $123.25 million in the fiscal year that ended in April 2014.
The company has 277 employees, 208 of which are in Arkansas.
Last month, Anthony Forest Products CEO Aubra Anthony told Arkansas Business that selling to the publicly traded Canadian firm was the best choice for the Anthony family, the firm’s employees, the communities it operates in and its customers and suppliers.
"It was a family consensus that if an opportunity presented itself, which it did, that this was the best of any possible choice for the family members," Anthony said. "We just put it off longer than most people wind up doing."
Anthony Forest Products is not affiliated with Anthony Timberlands of Bearden, also one of the state's largest private companies.