A sister company to Swedish furniture giant Ikea has quietly bought up more than 23,000 hectares of New Zealand forests and farmland since 2021. Ingka Investments Management NZ and Ingka Investments Forest Assets NZ were registered with the Companies Office in December 2020. Both companies are described as related to forestry and owned by Ingka Investments, a Dutch-based investment arm of Ingka Group, Ikea’s largest owner-operator. Since August 2021, the Overseas Investment Office (OIO) has granted the companies 20 consents to buy more than 23,100ha of land in plots from Southland to Bay of Plenty. …When Ingka’s early interest in buying land in New Zealand was revealed, an Ikea spokesperson said the group was “considering different opportunities, including forestry investments in the country.”