IKEA gets more OIO approvals for NZ forestry land

IKEA gets more OIO approvals for NZ forestry land
The investment arm of IKEA's parent company has had three successful OIO applications in 2025. (Image: DepositPhotos)
John Anthony
The owner of the Swedish-founded furniture company IKEA continues to expand its forestry footprint in New Zealand. Three successful Overseas Investment Office (OIO) applications this year brought its total land acquisitions to about 27,000 hectares, valued at close to $370 million.OIO records show Ingka Investments – the investment arm of IKEA’s parent company, Ingka Group – has received approval for 29 applications to purchase large tracts of NZ farmland since 2021.The first 27 approved applications disclosed purchase pr...

More Retail

E-commerce deal website GrabOne ceases trading
Retail

E-commerce deal website GrabOne ceases trading

E-commerce deal website GrabOne has ceased trading after its owner went into liquidation on Thursday.Daniel Stoneman and Neale Jackson of Calibre Partners were appointed liquidators of Global Marketplace New Zealand Limited, which operates the GrabOne business in NZ.GrabOne’s web...

Staff reporters 16 Oct 2025
Trade Me payment changes anger professional sellers
Retail

Trade Me payment changes anger professional sellers

The move has sparked anger and complaints.

Andy Macdonald 15 Oct 2025
ANZ alternate capital review proposal unveiled
Finance

ANZ alternate capital review proposal unveiled

The bank argues its proposal would cut borrowing costs by 11 basis points.

Andy Macdonald 13 Oct 2025
Smiths City owes creditors $26.8m
Retail

Smiths City owes creditors $26.8m

The outlook for unsecured creditors of the former retail icon Smiths City appears bleak, as liabilities have mounted to more than $26.8 million.Liquidators for the century-old retailer stated in their initial report that 240 creditors were owed money by the company, as reported b...

Staff reporters 09 Oct 2025