Inter IKEA Group Acquires Forestlands in Latvia

The Inter IKEA Group has signed an agreement to acquire its first set of forestlands in Latvia. This acquisition will allow IKEA to govern a part of its wood supply in the Baltics and contribute to the development of new methods for responsible forest management within the IKEA value chain, the company said.

According to the announcement, the seller is Skogsfond Baltikum AB (publ), and the acquisition is expected to be closed in December.

The land, approximately 8,080 hectares (20,000 acres) in size, is situated in various parts of Latvia. The acquisition will enable regional suppliers and sub-suppliers to have long-term access to responsibly sourced wood materials, which will provide better opportunities for future growth. Additionally, the acquisition provides an opportunity to explore how innovative forest management practices can enhance climate resilience and biodiversity.

In a statement accompanying the announcement, Bruno Mariani Piana, Global Forest Investments Manager at Inter IKEA Group, said:

“With this investment, we further strengthen our commitment to responsible forest management and securing responsibly managed raw material sources for our supply chain. By managing our forestland, we are committed to ensuring that our operations foster a positive contribution to the environment and local economies, in close collaboration with local businesses and communities.”