LEIDEN, Netherlands – Ingka Investments, the investment arm of the Ingka Group, which owns the majority of the Top 100 Ikea retailers, has acquired 3,264 acres of land in Florida as part of its long-term commitment to managing responsible for forests.
The investment property, Tupelo Honey, consists of two parcels of land in Gulf and Liberty counties near the Apalachicola River that will be used for an ongoing reforestation project, creating new forest land by planting trees in areas where there were none before.
“We are excited to expand our forestry portfolio in the United States, and this demonstrates Ingka Group’s long-term commitment to investing in responsible forest management,” said Krister Mattsson, Managing Director of Ingka Investments. “The acquisition of Tupelo Honey is a fantastic opportunity to demonstrate the responsible forest management approach that Ingka Investments uses on all our properties: caring for the environment and the planet, meeting the needs of the local community through long-term sustainable management.”
The acquisition of Ingka Investments in Florida, which was completed on December 22, 2021, builds on the Ingka Group’s total investment in the American forest properties, located in southeastern Georgia (11,000 acres) , South Carolina (17,000 acres), Alabama (29,000 acres) and Oklahoma. (18,000 acres) and Texas (59,000 acres).
Officials say the new forests will support increased biodiversity, help ensure sustainable timber production from responsibly managed forests, and reclaim land damaged by Hurricane Michael in October 2018.
The project will begin by preparing the land for planting, including clearing debris from storm-damaged areas and rehabilitating abandoned pastures. The property will then be planted with a mixture of local species, focusing on longleaf pine. At least 650,000 new trees will be planted during the first rotation of the 40-year cycle.
Between September 2020 and August 2021, Ingka Investments planted 600,000 seedlings, wooded 1,186 acres in the United States, and planted nearly 7 million seedlings globally. To ensure that its forest management meets the highest environmental and social standards, all Ingka Investments forests are audited and certified by the Forest Stewardship Council.