Westervelt and CDPQ announce new strategic partnership

The Westervelt Company and Caisse de dépôt et placement du Québec (CDPQ) have formed a partnership to acquire more than 76,000 acres of high-quality pine timberland in Georgia and to create of a new strategic partnership that will focus on sustainable timberland management.

The newly acquired property had been owned and managed for nearly a century by Superior Pine Products, a family-owned company headquartered in Georgia.

“This was a rare opportunity to purchase a special timberland asset in southeast Georgia. The land matches Westervelt’s strategic growth and diversification objectives, and its age class distribution balances growth and sustainability goals,” said Brian Luoma, Westervelt president and CEO.

"This transaction illustrates what our Sustainable Land Management initiative is all about: investing in land with partners who truly share our values and culture of investing constructively,” said Emmanuel Jaclot, executive vice-president and hea