Lars Larsen Group to Invest €67 Million in Forests in Estonia, Latvia, and Lithuania

Over the coming years, Lars Larsen Group, together with Dalgas—a subsidiary of Hedeselskabet – will acquire and establish forest operations in Estonia, Latvia, and Lithuania. The goal is to build a business that delivers solid financial returns, respects climate and biodiversity, and supports the development of wood-based products for industries such as construction and furniture manufacturing.

- At Lars Larsen Group, we want to support – and invest in – a sustainable future. In the Baltics, we gain access to attractively priced forests and benefit from a timber industry that is well-integrated into the global market. We look forward to working with Dalgas, which has delivered impressive results in the region for many years, says Daniel Albæk, Executive Vice President and Chief Investment Officer at Lars Larsen Group.

Partnership Model with Positive Impact

At Dalgas, which develops and maintains everything from small outdoor areas to large forests, the partnership with Lars Larsen Group is seen as a major opportunity.

- It is a great pleasure for us at Dalgas to work closely with a professional company like Lars Larsen Group, where sound business practices and the green transition go hand in hand. We bring nearly 160 years of experience in nature management and forest investment. Together, we ensure a solution that delivers positive outcomes – both financially and environmentally, says Torben Friis Lange, CEO of Hedeselskabet, the owner of Dalgas.

The plan is for Lars Larsen Group to make its first forest investments in autumn 2025, with the total investment expected to reach €67 million over the coming years.