05:08 PM EDT, 05/22/2025 (MT Newswires) -- Weyerhaeuser (WY) said late Thursday it has agreed to purchase nearly 117,000 acres of timberlands in North Carolina and Virginia from Roanoke Timberlands for $375 million.

This acquisition involves highly productive timberlands, primarily fee ownership with 81% planted pine acreage, and are expected to yield an average annual harvest of 7.4 tons per acre over the first five years, the company said.

The acquisition is set to close in Q3, pending standard conditions, the company said, adding that upon completion, it will own or manage roughly 744,000 acres of timberland in North Carolina and 150,000 acres in Virginia, in addition to operating three mills, two distribution centers, and field offices.