Ingka Investments, the investment arm of Ingka Group, has agreed to purchase 153,066 hectares of land across Latvia and Estonia from Sweden’s Södra, with 89% classified as forestland. The Euro 720 million acquisition includes 135,702 hectares of forests and represents Ingka Investments' largest forestland purchase to date, according to Ingka Investments.
The deal covers all of Södra’s forest holdings in both countries and is subject to regulatory approval. Södra confirmed the total value at approximately 8 billion kronor. Following completion, it will retain only two timber import subsidiaries in the region—one in Latvia and one in Estonia—as it shifts focus to managing forests owned by more than 50,000 members in southern Sweden.
In Latvia, the acquired area totals 135,324 hectares, with 119,929 hectares designated as forestland. In Estonia, 17,742 hectares are included, of which 15,773 hectares are forestland. The purchase significantly expands Ingka Investments' Baltic portfolio beyond the 168,000 hectares it already manages across Latvia, Estonia, and Lithuania.
Ingka Investments currently owns 331,500 hectares globally, including land in the United States (75,000 ha), Romania (51,000 ha), Aotearoa New Zealand (28,500 ha), and Finland (9,000 ha). In financial year 2025, it planted 14 million seedlings and achieved a net forest growth of 500,000 m3 annually. Around 22% of its forests are managed with conservation as a primary goal.
Ingka Investments Latvia reported a turnover of Euro 11.9 million in financial year 2025 and employed 40 local staff, while its Estonia operations generated Euro 8.5 million in turnover with 12 employees. Additional employment was generated through local contractors in both markets.
Earlier in the year, Ingka Investments allocated 16,000 hectares of Latvian forest for a research project with the European Forest Institute and Preferred by Nature, trialling continuous-cover and closer-to-nature forestry methods to improve resilience and reduce biodiversity impacts.
The company stated it plans to maintain sustainable forestry practices already established by Södra and increase regional processing through partnerships with Baltic sawmills and panel manufacturers, aiming to strengthen the local forestry value chain rather than export raw timber.
