Ikea parent company buys 17,000 acres of woodland north of Charleston for $ 58.5M | Property
The parent company of the Swedish crown and Dutch dealer Ikea now owns a considerable part of South Carolina woodland.
An affiliate Ingka Group recently acquired around 17,000 hectares in Georgetown, Williamsburg and Clarendon counties on the northern edge of the Greater Charleston region.
Documents filed with each of the counties shows IRI Forest Investments LLC paid $ 58.5 million, or about $ 3,441 per acre. The seller was Sustainable Growth LLC, affiliated with Atlanta-based Forest Investment Associates LP.
The country will be used to grow and harvest trees, and it adds to the company's forestry in the United States
Ingka also owns 25,000 acres in Alabama and another 22,000 in Texas.
"This new acquisition is a good basis for us to invest in the bottom coastline of South Carolina, where the forest area offers both high quality and good regeneration capacity," Krister Mattsson said. , CEO of Ingka Investments, in a statement.

Ikea's parent company recently purchased 17,000 hectares of woodland in East South Carolina. Provided
"We are actively looking to increase our portfolio in the US, as we see a good match between what the market has to offer and our high standards of responsible forest management," Mattsson added.
Ingka said that forestry practices mandated more trees are planted than harvested as part of their commitment to maintain a positive impact on humans and the planet. 19659002] Ingka owns around 85,000 hectares worldwide, including around 21,000 in Eastern Europe – in Estonia, Latvia, Lithuania and Romania.
Ingka Group operates 50 Ikea stores, 10 distribution and customer centers and a US planning studio. The stores are known for pre-assembled furniture, kitchen utensils and home products.
The nearest Ikea store to Charleston is in Charlotte. Lowcountry does not have the necessary population base to support the company's business model for a store in the region.
Reach Warren L. Wise at 843-937-5524. Follow him on Twitter @warrenlancewise.