Drax Group to acquire an additional 10% interest in Alabama Pellets from Two Rivers Lumber for $22m.

Drax Group, a power generation business, agreed to acquire an additional 10% interest in Alabama Pellets, the operator of the Aliceville and Demopolis pellet plants, from Two Rivers Lumber, a company that operates in the building materials industry, for $22m. The acquisition will provide Drax with net economic control over a further 66k tonnes of sustainable biomass production capacity per annum, rights over land associated with Demopolis and extend long-term fibre supply arrangements.