Sorainen advised Canadian Forest Products (‘Canfor’) in acquiring Vida Packaging Eesti. The transaction is connected to Canfor’s 70 percent acquisition of Swedish company VIDA Aktiebolag.
“With the acquisition of VIDA, we are excited to become a truly international manufacturer and provider of wood product solutions for our global customers,” said Don Kayne, President and Chief Executive Officer of Canfor. “This transformational growth will allow Canfor to further diversify and secure a worldwide fibre supply to meet the growing demand of our customers for high-quality wood products.”
Canfor is a leading integrated forest products company based in Vancouver, British Columbia. Its annual production capacity will be approx 7.2 billion board feet, with a highly diversified operating base in western Canada, the U.S.A. and Europe.
The Sorainen team consisted of partner Toomas Prangli, senior associate Juulika Aavik and associate Nele Suurmets. Team’s involvement included legal due diligence and acquisition of the Estonian subsidiary.