Ikea buys €65m worth of forests in Baltics, says Lithuanian daily

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Furniture giant Ikea has bought a total of approximately 38,000 hectares, or nearly 94,000 acres, of forest in Estonia, Latvia and Lithuania for a total cost of €65m, reported ERR via Lithuanian daily Verslo žinios.

Last year, Ikea bought a total of 72,000 hectares, or approximately 178,000 acres, of forests across the Baltics and Romania for at least €115m, reported Bloomberg via Sweden's agricultural daily ATL.

Ikea did not comment on the share of forests purchased by the Swedish furniture group in Lithuania or the sum paid for them.

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