Tree Frog Forestry News

Pope Resources sold to Rayonier

Seattle Times
January 15, 2020
Category: Business & Politics
Region: United States, US West

Pope Resources, the Poulsbo-based timberland company that traces its roots to the founding of Port Gamble in 1853, said Wednesday its assets will be acquired by Florida-based Rayonier for more than $550 million. Pope’s limited partnership units jumped 35% on news of the deal. Owners of the units will get an estimated $126.91 per unit in a combination of cash and Rayonier shares. Pope Resources was created in 1985 by combining several enterprises and properties of its predecessor, Pope & Talbot. It has since specialized in owning and managing timberlands and developing real estate in the Seattle-Tacoma area. In a news release, Rayonier and Pope Resources noted the real estate development opportunities of Pope holdings, including projects in Gig Harbor, Port Gamble, Kingston and Bainbridge Island.

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