UPDATE 1-IKEA buys forests in Latvia and Lithuania from CapMan Natural Capital

Inter IKEA Group said in the statement the acquisition aligns with its objectives of promoting responsible forest management and sourcing local raw materials. "By managing forestland responsibly and increasing regional wood processing in the Baltics, we aim to support local economies, collaborate with communities, and maintain healthy forests for generations to come," Inter IKEA Group Global Forest Investments Manager Bruno Mariani Piana said.

IKEA furniture brand owner Inter IKEA Group has agreed to buy around 24,000 hectares of forest in Latvia and Lithuania from CapMan Natural Capital , the Finnish private equity firm said on Wednesday.

CapMan Natural Capital said in a statement the parties expect to finalise the deal, which pends regulatory approvals, in the first half of 2026. Inter IKEA Group said in the statement the acquisition aligns with its objectives of promoting responsible forest management and sourcing local raw materials.

"By managing forestland responsibly and increasing regional wood processing in the Baltics, we aim to support local economies, collaborate with communities, and maintain healthy forests for generations to come," Inter IKEA Group Global Forest Investments Manager Bruno Mariani Piana said. The forests involved in the transaction are certified as sustainably managed by the Forest Stewardship Council.

IKEA, one of the world's biggest wood users, aims to halve carbon emissions across its value chain by 2030 compared to 2016 and to achieve net zero emissions by 2050, and is investing in forests as part of initiatives to reach the targets.

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