The AAM Investment Group has agreed to terms for the purchase of the Mount Gambier based N.F. McDonnell & Sons softwood timber processing business, with finalisation of the sale scheduled to be completed before the end of November 2021.
Established in 1944 by Newman McDonnell, the company has been owned by the McDonnell family for four generations. The business employs around 125 people at its Suttontown Mill and processes just over 400,000 tonnes of softwood log resources per annum.
AAM Investment Group General Manager of Innovation and Sustainability, Ben Edser, said AAM was looking forward to upholding the legacy of N.F. McDonnell & Sons. “With more than 530 people already employed across 31 sites in five states, one of AAM’s most important priorities is investing in a way that has real and positive outcomes for rural and regional communities,” he said.
AAM is an Australian investment and management group with a focus on primary industries.