This week, the Ingka Group, the parent company of IKEA, announced investments in South Carolina’s forestry.
Ingka Holding B.V. and its controlled entities has made a new acquisition of approximately 17,000 acres of forestland 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).
“This new acquisition marks a strong foundation for us to invest in the lower coastal plain of South Carolina, where the forestland offers both quality wood and good regeneration capacities”, says Krister Mattsson, Managing Director Ingka Investments. “We are actively looking to increase our portfolio in the US, as we see a good match between what the market has to offer and our high standards related to responsible forest management.”
The company’s high forestry management standards mandates that more trees are planted than harvested, according to a statement from the company. In February, the Forest Stewardship Council (FSC) awarded certification for responsible forest management of the properties Ingka owns in the US.
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 fulfillment centers, and one IKEA Planning Studio, which opened in Manhattan in April.