Ingka Investments, the investment arm of Ingka Group, has completed the acquisition of forestland from Södra in Latvia and Estonia, following the signing of the agreement announced in October 2025. The transaction is part of Ingka Investments’ strategy to invest in long‑term assets that combine financial resilience with positive impact for the Ingka Group and IKEA business, building a strong foundation for many generations to come.
With the acquisition now completed, Ingka Investments will take on the role of long‑term forest owner, with the ambition to manage the forest in a responsible way, while contributing to local economic activity.
Peter van der Poel, Managing Director of Ingka Investments, said: “We are pleased to have completed this transaction with Södra. Our intention is to be a stable, long‑term owner of this forestland, managing it responsibly to create long‑lasting value for the regional economy, the climate and the local communities who depend on these forests. As a renewable resource, wood plays a vital role in the future, and we are committed to ensuring its continued availability through responsible forest management that preserves and strengthens these forests for generations to come.”
Note to editors
Total area included in the acquisition is 135,232 ha in Latvia, of which around 85% forestland area (115.000 ha), and 17,742 ha in Estonia, of which around 89% forestland area (15,800 ha). The purchase price of the asset was EUR 720 million.
In financial year 2025, Ingka Investments Latvia generated a turnover of EUR 11.9 million, employed 40 local co-workers, and created additional jobs through local contractors. Ingka Investments Estonia generated a turnover of EUR 8.5 million and employed 12 local co-workers.
Ingka Group has IKEA retail operations in Aotearoa New Zealand, Australia, Austria, Belgium, Canada, China, Croatia, Czech Republic, Denmark, Finland, France, Germany, Hungary, India, Ireland, Italy, Japan, Netherlands, Norway, Poland, Portugal, Romania, Serbia, Slovakia, Slovenia, South Korea, Spain, Sweden, Switzerland, Ukraine, United Kingdom, and United States. Ingka Group doesn’t have any retail operations in the Baltics. The IKEA retail operations in the Baltics are operated by Inter IKEA Group.
About Ingka Group
With IKEA retail operations in 32 markets, Ingka Group is the largest IKEA retailer and represents 87% of IKEA retail sales. It is a strategic partner to develop and innovate the IKEA business and help define common IKEA strategies. Ingka Group owns and operates IKEA sales channels under franchise agreements with Inter IKEA Systems B.V. It has three business areas: IKEA Retail, Ingka Investments and Ingka Centres. Read more on Ingka.com.
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