Boise Cascade Co. said it will buy two wood-products plants from Georgia-Pacific for $215 million.
One plant, in Thorsby, Ala., produces laminated veneer lumber. The other, in Roxboro, N.C., makes I-joists.
Boise Cascade CEO Tom Corrick said the company wants to bolster its wood products as housing starts rebound across the nation.
“There are tremendous opportunities to optimize our mill system and realize freight and other cost synergies,” Corrick said in a news release this week.
Boise Cascade plans to apply about $90 million of its cash reserves toward the purchase. The company is borrowing about $130 million.
The sale is pending regulatory review and is expected to close in the first half of 2016.