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Welter Forest Products to Purchase Wolf Investment Acquisition
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Welter Forest Products, Inc. (DBA Granite Valley Forest Products), headquartered in Marathon City, Wisconsin, has entered into an agreement with GreenStone Farm Credit Services to purchase the assets of Wolf Investment Acquisition LLC. (DBA Wolf River Lumber), located in New London, Wisconsin.



Welter Forest Products, Inc. to Purchase Wolf Investment Acquisition LLC.


Welter Forest Products, Inc. (DBA Granite Valley Forest Products), headquartered in Marathon City, Wisconsin, has entered into an agreement with GreenStone Farm Credit Services to purchase the assets of Wolf Investment Acquisition LLC. (DBA Wolf River Lumber), located in New London, Wisconsin. Granite Valley Forest Products and GreenStone are working together to finalize the agreement with the intent of closing the transaction by the end of 2012.

GreenStone, a member of the Farm Credit System headquartered in East Lansing, Michigan, acquired Wolf River Lumber in the summer of 2010. After acquiring the property, GreenStone opted to keep the company open, helping preserve the jobs of 65 workers while seeking a potential buyer. After the completion of the purchase, Granite Valley Forest Products will continue to operate the Wolf River Lumber facility.

“Everyone at Granite Valley Forest Products is happy to welcome the hard working and dedicated staff of Wolf River Lumber to our organization,” said Gus Welter, President of Granite Valley Forest Products. “We look forward to continuing operations at Wolf River and being actively involved in the local community.”

“When we acquired Wolf River in 2010, we thought it was very important to keep as many employees as possible employed, even during the difficult economic times experienced by the timber industry,” said Dave Armstrong, GreenStone President and CEO. “We are happy to have reached an agreement with Granite Valley Forest Products, a company with the expertise to lead Wolf River as part of Wisconsin’s vibrant timber industry for many years to come.”

“Wolf River Lumber and its employees are excited to be joining the Granite Valley Forest Products family and would like to thank GreenStone for their efforts over the past two-years that allowed us the opportunity to continue serving our valued customers,” said John Olson, chief financial officer of Wolf River Lumber. “Everyone at Wolf River Lumber looks forward to continuing our tradition of producing top-quality lumber for a variety of customers around the United States and the world.”

About Granite Valley Forest Products

Headquartered in Marathon City, Wisconsin, Granite Valley Forest Products operates a lumber concentration yard offering the finest hardwoods from the lake state region of the United States. Granite Valley provides custom products to meet customers’ exact specifications for a variety of widths, lengths and colors. The experienced sales staff at Granite Valley has more than 150 years of combined hardwood and softwood sales experience specializing in tailoring products and quality to the customers’ needs, including custom designed grades and custom manufacturing.

About Wolf River Lumber

Wolf River Lumber is a state-of-the-art hardwood manufacturing facility located in New London, Wisconsin and is one of the largest such facilities in the United States. The Wolf River facility has the ability to dry and process a variety of hardwood species of the highest quality for manufacturers of cabinets, doors and trim, blinds, furniture, and flooring. Wolf River’s customers are located throughout the United States and around the world.

About GreenStone Farm Credit Services

GreenStone Farm Credit Services, based in East Lansing, Michigan, is Michigan and northeast Wisconsin’s largest agricultural lender and the country’s sixth largest association in the Farm Credit System. A member-owned cooperative, GreenStone owns and manages approximately $6.2 billion in assets and serves nearly 23,000 members with 37 branch locations in Michigan and northeast Wisconsin. More information on GreenStone can be found at www.greenstonefcs.com.