Ikea sister Co may be shopping for NZ forests

Friday 23 Jul 2021

Ikea's sister company Ingka Investments has registered a New Zealand company with forestry on its mind.

A sister company to Swedish furniture retailer Ikea is on the hunt for investments in New Zealand, and not necessarily of the retail kind. While there’s no news on when exactly Ikea’s stylish shops will open in New Zealand, Ingka Investments Management NZ and Ingka Investments Forest Assets NZ were quietly registered with the Companies Office last December.

Both are described as related to forestry and are owned by Ingka Investments, a Dutch-based investment arm of Ingka Group, Ikea’s largest owner-operator. An Ikea spokesperson said: “Ingka Group is considering different opportunities, including forestry investments in the country. We will share more information as it becomes available.”  

Overseas, Ingka Investments holds a diverse portfolio including stakes in a truck sharing business, a logistics co-ordinates firm and various plastics recycling businesses. According to its website, it invests in both early stage and mature companies, and “in people before companies,” only aligning with businesses that share its values.

Source: Stuff

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