New Forests appoints Ents Forestry for planned hardwood plantation acquisition in Australia
New Forests has appointed Ents Forestry,appointed,plantation assets,Peppermint Estate,Western Australian
Australia-based forestry investor New Forests has appointed Ents Forestry Pty Ltd to manage the plantation assets of Peppermint Estate Pty Ltd in Western Australian.
Peppermint Estate is owned by New Forests’ Australia New Zealand Forest Fund 3 (ANZFF3), an institutional investment fund that targets long-term, sustainable management of high-quality timber plantation estates in Australia and New Zealand.
Peppermint Estate will take ownership of the plantation assets being acquired from Bunbury Fibre Plantations Pty Ltd, pending Foreign Investment Review Board approvals. The Peppermint Estate assets will include around 12,000 hectares of certified plantation hardwood, located around Bunbury, Western Australia. The new ANZFF3 entity is named in recognition of the local coastal peppermint tree (Agonis flexuosa), which is endemic to the state’s South West.
Peppermint Estate will continue to be managed for certified woodchip supply, principally targeting export markets. The plantation purchase includes the establishment of a long-term timber supply agreement to Bunbury Fibre Exports Pty Ltd, managed by Mitsui Bussan Woodchip Oceania.
New Forests is a sustainable real assets manager offering leading-edge strategies in responsible forestry across a global portfolio of nearly 1 million hectares of forestry and conservation investments.