Ingka Group doubles U.S. forestry portfolio
Ingka Group, a strategic partner in the IKEA franchisee system, has recently acquired around 24,000 hectares (approx. 60,000 acres) of forestland in the United States, to boost responsible forest management.
The two sites are in Southeast Oklamhoma and East Texas, meaning Ingka Group now owns a total of around 50,000 hectares (125,000 acres) in America.
Ingka Group’s forest management is audited by an international certification body in responsible forest management. In all countries where it operates, the management units hold this international certificate for forest management.
In 2018, Ingka Group planted 600,000 seedlings afforesting 480 hectares in U.S. and close to seven million seedlings at the level of the entire portfolio. The organisation currently owns around 235,000 hectares of responsibly managed forestland in the United States and Europe (Estonia, Latvia, Lithuania and Romania).
The investments in forestland are part of a long term strategy to acquire resources that the Ingka Group’s core business is directly or indirectly dependent on.
“We are pleased to continue our forestland acquisitions in the U.S, as we see a good match between what the market has to offer and our high standards related to responsible forest management.” says Krister Mattsson, Managing Director Ingka Investments.
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