American Forest Products Corporation (AFPC) was a Fortune 500[1] company initially producing wooden boxes and shipping materials but expanding into the timber, sawmill, and lumber industries.
A listing of corporate holdings compiled in 1944 included: In 1963, AFPC had 4 sawmills and 170,000 acres (688 km2) of timberland in Northern California, and employed over 4000 workers in 49 location in 16 states.
Following this purchase, in the early 1970s Bendix acquired the recreational vehicle and mobile home businesses of the troubled Boise Cascade Corporation which it reorganized as Bendix Home Systems expecting to see synergies between the lumber produced by BFPC and the new division.
However, these synergies failed to materialize to the extent anticipated and Bendix sold off its Home Systems operations by the early 1980s.
[2] But, benefit from these acquisitions was never realized as Bendix sold BFPC in 1981 to Kohlberg Kravis Roberts (KKR) for US$425 million, a significant premium over its purchase price.