On October 3, 2022, Interfor Corporation agreed to acquire 100% of the equity interests in entities comprising Chaleur Forest Products from an affiliate of the Kilmer Group. Chaleur owned two sawmill operations in Belledune and Bathurst, New Brunswick, with a combined lumber production capacity of 350 million board feet and managed around 30% of New Brunswick's Crown forest. The acquisition price was C$325 million, which incorporated about C$31 million of net working capital. Additionally, Interfor took on Chaleur’s countervailing and anti-dumping duty deposits, valued at approximately 55% of US$82 million as of August 31, 2022. Ian Fillinger, Interfor's CEO, highlighted the deal's alignment with Interfor's growth and the benefits from Chaleur’s operations and management team. Post-acquisition, Interfor's annual lumber production capacity rose to 5.1 billion board feet. The acquisition, set to be accretive to Interfor's earnings, forecasted a C$50 million mid-cycle EBITDA from Chaleur and C$5 million in annual synergies. Funded by cash and credit facilities, Interfor retained financial flexibility post-deal. As of August 31, 2022, Interfor's net debt stood at C$48 million. The transaction awaited Canadian and U.S. regulatory approvals and was projected to close in 2022's fourth quarter. Chaleur’s facilities were unaffected by Hurricane Fiona.