“Obviously wood is an essential part of the Ikea identity and our ultimate goal is to get that wood into the Ikea supply chain.”
He said it would focus on domestic processing and was working to develop relationships with local sawmills and traders, though he did not rule out looking to develop their own further down the track.
Honour said most of the forestland was not eligible for carbon units.
Where blocks are registered under the Emissions Trading Scheme, or ETS, he said this helped quantify how many units are being sequestered and the carbon units are not traded.
“We have no focus on carbon whatsoever, and we have a pure timber focus.”
Overseas Investment Office figures from last year show Ingka Investments had bought about 19,200ha of farmland to turn into rotational pine forests.
Some of the more prominent sales included Huiarua Station and Matanui Station in the Gisborne region, with a combined area of just over 6000ha.
Honour acknowledged much of the land purchased by Ingka Investments since 2021 was farmland converted to forestry.
“Even from the start, if we could buy forests we would have. Unfortunately they don’t come up for sale that often.
“We wanted to get established in New Zealand and at that time, back in 2021, acquiring farms was a way to do that.”
He said there were “pros and cons” to establishing new forestry blocks.
“Creating forests from the start where you can set your riparian zones, your set back from waterways right from the start does have some benefits.”
He would not rule out purchasing future farms for conversion, but said it was not Ingka’s focus for now.
“We would much rather procure existing forests because it just fits with our values better.”
He said the strategic acquisition underscored Ingka Investments’ long-term commitment to responsible forest management, sustainable land stewardship and regional economic development.
Addressing farmer concerns about the risk of fire and pests on forestland, Honour said management plans were in place for both.
Planned restoration projects focused on indigenous reforestation, and enhancement of existing native vegetation will be complemented by ongoing pest-control programmes designed to safeguard biodiversity, improve forest health, and support the long-term success of restoration efforts.
While pinus radiata will remain the dominant commercial species because of its proven performance, future replanting cycles will selectively introduce alternative species where appropriate.
This diversification strategy will strengthen ecosystem resilience, support biodiversity, and improve overall forest health.
The Northland forests were certified by the Forest Stewardship Council and would remain so.
New Zealand’s first Ikea opens in December. Photo / RNZ, Marika Khabazi
Honour said a commercial production forest contributed to regional employment and he hoped to grow the number of Northland jobs.
Local forestry company, Northland Forest Managers, would continue daily operations. Manager Neil Geerkens said he looked forward to the partnership.
“Together, we will maintain sustainable harvesting practices, enhance biodiversity conservation and ensure continued community access, delivering enduring environmental, social, and economic benefits for the region.”
The acquisition was subject to OIO approval, and shareholder and regulatory approvals by Greenheart Group.
Kelvin Meredith, Ingka Investments’ forestland country manager New Zealand, said it was committed to responsible forest management, including restoring natural landscapes, supporting biodiversity and collaborating with local communities to create meaningful, lasting impact.
“People value recreational access to these forests, and we’re committed to ensuring these opportunities continue.”
The Kauri Coast Mountain Bike Park, located at Baylys Forest and operated by the Kaipara Cycling Club, will continue to be free to access by the public, subject to seasonal safety restrictions.
Seasonal beehives located on parts of the estate, operated in consultation with the landowner, will also remain in place to support local apiarists and contribute to biodiversity across the forest landscape.