Boise Cascade, LLC Makes Largest Timberlands Sale in History

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CHICAGO – Kirkland & Ellis LLP is representing Boise Cascade, LLC (“Boise”) in the sale of about 2.2 million acres of timberlands in the United States to Forest Capital Partners LLC for $1.65 billion in cash. The deal was announced on Dec. 21, 2004.

The land that the Boston-based timber management company is purchasing is located across the Pacific Northwest, Louisiana, Alabama and Minnesota. According to Forest Capital, this is the single-largest cash timberlands sale in history.

Proceeds from the sale will be used to reduce BoiseÂ’s outstanding debt. The transaction is expected to close in the first quarter of 2005.

On Oct. 29, Boise Cascade Corporation (now doing business as OfficeMax, Inc.) sold its paper, forest products and timberlands assets to Boise, a subsidiary of Madison Dearborn Partners LLC, a Chicago-based private equity firm, for approximately $3.7 billion.

Partners Bradley V. Ritter, Jeffrey W. Richards and Richard J. Campbell represented Boise in this complex deal.

“Kirkland represents clients in negotiating some of the most difficult and important deals in the world,” Ritter said. “This complex deal was indicative of the kind of work that the Firm does.”

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