Ingka Group has acquired forestland property in the U.S. from The Conservation Fund, a non-profit conservation organisation that has protected over 8 million acres of land in the US.
The property is located in southeast Georgia near the Altamaha River Basin, designed for its high conservation value. It consists of approximately 4,386 hectares (10,840 acres). The forestland was sold to Ingka Group due to the company’s proven responsible forest management and will be managed by Ingka Investments, the investment arm of Ingka Group.
Ingka Group has assumed all legally binding agreements set in place by The Conservation Fund which include the obligation to protect the land from fragmentation, restore the longleaf pine forest, and safe-guard the habitat of the gopher tortoise (a priority species for conservation).
“We are delighted to continue our forestland acquisitions in the U.S. With this new acquisition, we own roughly 55,000 hectares (136,000 acres) in five states – Georgia, South Carolina, Alabama, Texas and Oklahoma. This investment in Georgia is special to us as our partners from The Conservation Fund understood our long-term vision and have entrusted us to ensure the protection of the forestland,” says Krister Mattsson, Managing Director Ingka Investments.
Ingka Group currently owns and manages around 248,000 hectares (approx. 613,000 acres) of forestland in the U.S. and Europe (Estonia, Latvia, Lithuania and Romania). In all countries where it operates, the management units hold the FSC certificate for forest management.
Ingka Group is a strategic partner in the IKEA franchise system, operating 380 IKEA stores in 31 countries. Ingka Group has three business areas: IKEA Retail, Ingka Investments and Ingka Centers.
