Molpus Woodlands Group has enlarged its portfolio by acquiring 87,225 acres of timberland in Florida and Georgia from affiliates of CLAW Forestry Services, another timberland investment manager.
The timber investment management organisation (TIMO) has set up an office in Jasper, Florida, to oversee management, and now has two million acres under management in 18 states, valued in excess of $2 billion.
The new timberlands are set in northern Florida and southern Georgia between Jacksonville and Tallahassee in Florida and Valdosta in Georgia, and have been in timber production for decades, according to a press release. They have been managed until now by the Packaging Corporation of America and the International Paper Company.
“We are excited to have the opportunity to add such a high-quality asset to our management portfolio. Through sound stewardship and sustainable forest practices, we intend to continue the production of high-quality timber products that are so vital to the diverse wood-using facilities operating in the region,” said chief operating officer Ken Sewell.
Molpus was founded in 1996 as a TIMO and acquires, manages, and sells timberland for pension funds, endowments, foundations, insurance companies and high net worth individual investors.