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November 25, 2019

IKEA to acquire 42,000 acres of forestland in East Texas

IKEA to acquire 42,000 acres of forestland in East Texas
IKEA has acquired 42,000 acres of forestland in East Texas to source wood for its furniture.    The Swedish furniture giant said the acquisition, coupled with the recent purchase of 18,000 acres in Southeast Oklahoma, nearly doubled its U.S. forestry portfolio to 125,000 acres. The retailer declined to share financial details of the transactions.    “We are committed to manage our forests in a sustainable way, with proper care for people and (the) environment, and at the same (time) meeting our business objectives, Krister Mattsson, a managing director with IKEA ...

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