Thursday, February 2, 2023
Mirax Group made it official that an agreement has been reached to acquire Chilliwack, British Columbia-based Lyle Forest Products. With this transaction, Mirax Group will be one step closer to having a more vertically integrated forest business in British Columbia. Lyle’s incorporation into Mirax Group’s family of businesses is consistent with their value-added business model, which aims to increase and diversify local investment in British Columbia while also producing high-quality finished goods that can be sold throughout the world.
“Perfect synergy to further add value to our growing products”
“We are excited to welcome Lyle’s employees to the Mirax Group. The addition of Lyle Forest Products is a perfect synergy for our organization to further add value to our growing product base, and keeping forestry and manufacturing alive here in our province,” Jas Binning, CEO of Mirax Group said. The completion of the transaction is subject to customary conditions and is expected to close in the ending of February 2023.
Lyle Forest Products, a value-added lumber facility using Pacific Coast Hemlock and Western Red Cedar, was founded in 1972 and it has been manufacturing the highest quality paneling, moldings, S4S finishing boards, and engineered wood products for the past 50 years. With Jazz Forest Products, a sister business of Mirax Group, serving as the only distributor for Lyle goods, the new subsidiary will be known as Lyle Specialty Forest Products Ltd.
The Mirax Group, a privately held family-based business, was established in 1997 and now employs over 500 people across British Columbia. Its operations have expanded to include forestry, lumber manufacturing, marketing, operations that add value to lumber, agriculture, real estate and development, and hospitality. Our company focuses on forming new connections, the growth of our local communities, the employment of locals, the fostering of local economies, and the formation of strategic alliances.
Tags: British Columbia, Lyle Forest Products, Mirax Group, wood, woodworking, woodworking and manufacturing, woodworking event, woodworking industry, woodworking USA