New Forests-led consortium acquires AKD’s plantation assets [AU]

Friday 16 Oct 2026

 
New Forests, a global investment manager of nature-based investments and natural capital strategies, has announced its Australia New Zealand Landscapes and Forestry Fund (ANZLAFF), together with an institutional co-investment partner, has agreed to acquire the plantation forestry assets of AKD, Australia’s largest softwood sawmilling business. The transaction is subject to regulatory approvals.

The AKD estate consists of 57 radiata pine plantations, across more than 13,000 hectares located across Victoria, South Australia and New South Wales. The acquisition represents a significant investment in Australia’s plantation forestry sector.

David Shelton, Managing Director, Australia and New Zealand at New Forests, said, “AKD is a high-quality business operating at significant scale within a strategically important part of Australia’s forestry and wood products supply chain.

“The acquisition of AKD’s plantation estate provides our investors with exposure to high quality, sustainably managed plantations across key forestry regions in Australia. We see strong long-term fundamentals for sustainably produced timber, supported by Australia’s growing demand for housing and renewable building materials," he said.

Shane Vicary, Chief Executive Officer of AKD, said, “this investment marks an exciting new chapter for AKD's plantation estate. We look forward to working with New Forests to maintain a long-term connection with the estate through agreements for the supply of sawlogs and pulp log. In the meantime, we continue to invest in our people, operations and regional communities and supply high-quality Australian-grown timber to our customers.”

David Shelton added, “we look forward to working with AKD’s management to build on the strong foundations of the plantation business and support its next phase of growth.”

AKD employs more than 900 people across regional Australia. The business produces more than one million cubic metres of timber products each year, representing approximately 20–25% of Australian production. The sawmilling business will continue to be owned and operated by AKD.

In January 2025, New Forests announced the final close of ANZLAFF raising almost A$600 million from institutional investors across Asia Pacific and Europe.

Resolute Advisory acted as financial advisor to AKD. Financial terms are confidential.

Source: New Forests
Image credit: AKD


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