Boise Cascade Reaches Agreement to Acquire Coastal Plywood Operations

BOISE, Idaho – Boise Cascade Company (“Boise Cascade,” the “Company,” “we,” “our”) (NYSE: BCC) announced
today that it has reached an agreement to acquire Coastal Plywood Company (“Coastal”), including its two
manufacturing locations, from Coastal Forest Resources Company for $512 million, subject to certain closing
adjustments. The Company currently plans to fund the transaction and closing-related expenses from its existing
cash balances.

Coastal is a provider of quality plywood, lumber, and treated wood products throughout the eastern U.S. The
purchase agreement includes its locations in Havana, Florida, and Chapman, Alabama, which employ
approximately 750 people.

“This acquisition incrementally expands our veneer capacity in support of our customers,” said Nate Jorgensen,
CEO, Boise Cascade. “Near term, it provides us the ability to optimize our existing engineered wood products
(EWP) asset base. Longer term, we are excited to fully integrate this strategic venture and we intend to invest $50
million into our Southeast operations over a three-year period to further our EWP production capacity.”

Travis Bryant, CEO of Coastal Forest Resources Company, stated, “Coastal has a long history of manufacturing
quality products and a strong reputation in the markets we serve. This transaction represents an opportunity for our
talented and dedicated employees to join a dynamic organization, offering them a secure future with great
opportunities ahead.”

“These are well-invested and managed plants that fit nicely into our existing footprint of integrated facilities in the
Southeast,” said Mike Brown, executive vice president, Boise Cascade. “We look forward to welcoming the Coastal
team to Boise Cascade.”

The scope of this transaction does not include Coastal’s parent company or timberlands assets. Closing of the
acquisition is expected in the third quarter of 2022, subject to customary closing conditions, including receipt of
antitrust approval under the Hart-Scott-Rodino Act of 1976, as amended.

Boise Cascade was advised by Perkins Coie LLP, as outside legal counsel, and Coastal was advised by Harris
Williams, as financial advisor, and Hunton Andrews Kurth LLP, as outside legal counsel, in the transaction.

About Us
Boise Cascade is one of the largest producers of engineered wood products and plywood in North America and a
leading U.S. wholesale distributor of building products.

Forward-Looking Statements
Statements in this news release that are not purely historical facts or that necessarily depend on future events,
including statements about forecasted financial performance or other statements about anticipations, beliefs,
expectations, intentions or strategies for the future, may be forward-looking statements within the meaning of
Section 21E of the Securities Exchange Act of 1934, as amended. Readers are cautioned not to place undue
reliance on forward-looking statements. In addition, oral statements made by our directors, officers and employees
to the investor and analyst communities, media representatives and others, depending upon their nature, may also
constitute forward-looking statements. As with the forward-looking statements included in this release, these
forward-looking statements are by nature inherently uncertain, and actual results may differ materially as a result of
many factors. All forward-looking statements are based upon information available to Boise Cascade on the date
this release was submitted. Boise Cascade undertakes no obligation to publicly update or revise any forwardlooking
statements, whether as a result of new information, future events or otherwise. Any forward-looking
statements involve risks and uncertainties that could cause actual events or results to differ materially from the
events or results described in the forward-looking statements, including risks related to the integration of the
acquired assets, the Company’s growth strategies, or the Company’s revenues and operating results being highly
dependent on, among other things, new residential construction, commodity wood products prices and the
economy. Boise Cascade may not succeed in addressing these and other risks. Further information regarding
factors that could affect our financial and other results can be found in the risk factors section of Boise Cascade’s
most recent annual report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) and in the
other reports filed by the Company with the SEC. Consequently, all forward-looking statements in this release are
qualified by the factors, risks and uncertainties contained therein.


Media Contact: Amy Evans 208-384-3673
Investor Relations Contact: Kelly Hibbs 208-384-3638

This entry was posted in Investor Relations