Ingka Group, IKEA’s holding company, has made a new acquisition of approximately 17,000 acres of forestland in the US. The new property is located in South Carolina across the counties of Williamsburg, Clarendon and Georgetown. With this new investment, the Ingka forestry portfolio in the US has reached 64,000 acres, including additional locations in Alabama (25,000 acres) and Texas (22,000 acres).
Since 2014, Ingka Group has bought forest land in various parts of the world and owns around 210,000 hectares of responsibly managed forest land in the United States and Europe in Latvia, Lithuania, Estonia and Romania. By investing in forestry, as well as in companies that are active in recycling, renewable energy development and biomaterial developments, Ingka Group is supporting a circular economy and the long-term supply of sustainable materials.
This new acquisition is the latest in a series of significant investments the Ingka Group has made in the U.S., where they currently operate 50 IKEA stores, 10 distribution and customer fulfilment centers, and one IKEA Planning Studio, which opened in Manhattan in April. In 2017, Ingka Group also acquired San Francisco-based TaskRabbit, an innovative on-demand services platform company, to provide IKEA customers with additional ways to access flexible and affordable service solutions. Additionally, the company has made minority investments in the brand’s preferred kitchen installers Traemand, XL Hybrids, and AeroFarms, all of whom share the brand’s values and ongoing commitment to supporting sustainable resources.
Ingka Holding B.V., based in Leiden is the holding company that controls 315 of the 360 outlets of IKEA. The company is fully owned by the Stichting INGKA Foundation.