Rayonier announced it has completed its previously announced merger of equals with PotlatchDeltic Corporation, forming a combined land resources and wood products company that owns more than four million acres of geographically diverse timberland in the United States and operates a network of manufacturing and real estate assets.
The combined company’s operating footprint includes six sawmills and an industrial-grade plywood mill, alongside residential and commercial real estate development activities and a rural land sales program. The company said the transaction is designed to create a larger, more diversified platform to support shareholder value creation across timber, wood products, and higher- and better-use land opportunities.
Following the close, the senior leadership team is structured with roughly equal representation from both legacy organizations. Mark D. McHugh will serve as President and Chief Executive Officer, with Wayne Wasechek as Executive Vice President and Chief Financial Officer. Other named executives include Mark R. Bridwell as Executive Vice President, General Counsel and Corporate Secretary, Ashlee Townsend Cribb as Executive Vice President of Wood Products, W. Rhett Rogers as Executive Vice President of Land Resources, Christopher T. Corr as Senior Vice President of Real Estate Development, Robert L. Schwartz as Senior Vice President and Chief Human Resources Officer, April J. Tice as Senior Vice President and Chief Accounting Officer, and Anna E. Torma as Senior Vice President and Chief Sustainability Officer.
Board governance will also be split evenly, with five directors from each legacy company. Eric J. Cremers will serve as Executive Chairman of the Board, and Scott R. Jones will serve as Lead Independent Director. The other directors named are Keith E. Bass, Michael J. Covey, Ann C. Nelson, Linda M. Breard, Gregg A. Gonsalves, D. Mark Leland, Lenore M. Sullivan, and McHugh.
For now, the combined company will retain the Rayonier name, and it said its common stock will trade on the New York Stock Exchange under the ticker symbol RYN beginning February 2, 2026. The company said it expects to announce a new corporate name and ticker later in the first quarter of 2026.
Rayonier described itself as a land resources real estate investment trust focused on sustainably managing its timberlands while optimizing portfolio value through delivering land to its highest and best use, and noted its broader operating mix that includes wood products manufacturing, real estate development, and rural land sales.
KEY QUOTE:
“We are excited to close this strategic merger of equals, and we are confident that combining these two exceptional land resources companies will generate meaningful value creation for our shareholders and other stakeholders.”
Mark D. McHugh, President and Chief Executive Officer, Rayonier
