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Ikea's Ingka Group moves into NZ forestry

Staff reporters
Thu, 16 Sep 2021

Ingka Group has acquired 5,500 hectares of land in New Zealand’s South Island, as part of its long-term commitment to responsible forest management.The purchase agreement became unconditional when it received approval from the Overseas Investment Office at the end of August.The group is the largest of 12 Ikea franchisees, representing around 90% of total Ikea sales.The land – its first investment in NZ – will be used for a 30-plus year afforestation scheme to plant new forests, it said.The first planned harvest will take place...

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