CAMDEN, Arkansas (February 10, 2023) - The former Victory Lumber site in Camden has officially reopened as Camden Timbers after a $20 million investment by New York-based Astara Capital Partners LLC.

The privately held company expects the sawmill to produce more than 50 million board feet of timbers and dimensional lumber through its sawmill, kiln, and planer operations.

The project is expected to create more than 50 jobs. Michael Ranson, managing partner at Astara, said Friday that about 35 positions are currently filled and the mill has an annual payroll of $2 million.

Ranson said the mill workforce could double or triple in the coming years as the plant expands.

Astara announced last May that it had acquired the assets of Victory Lumber with plans to restart the mill. It's the firm's second sawmill investment, following its acquisition of Cross City Lumber LLC in Florida in April 2021.

About Astara Capital Partners

Astara Capital Partners is an integrated team of investors and operators investing in the middle market. The firm brings capital, strategic, and operational resources to its investments to build sustainable value and position them for long-term success. Astara focuses on a variety of sectors where it has deep experience, including packaging and converting, food, building products, forest products, and industrial manufacturing, distribution, and services. More information about Astara can be found at www.astaracapital.com.

Source: arkansasedc.com