TALLINN, Sept 3 (LETA--BNS) - One of Denmark's largest family-owned businesses, the Lars Larsen Group, best known for its interior and home products retail brand Jysk, has announced plans to invest DK 500 million (EUR 67 million), in Baltic forestry over the coming years, Estonian daily Postimees reported.

The company said its first investments in forest land are scheduled for fall 2025, with the total investment volume expected to reach half a billion kroner in the near term.

"The Lars Larsen Group has decided to invest in forestry and the establishment of new forests in the Baltic states. The investment will be made in collaboration with Dalgas, which has successfully operated in the Baltics for many years," the company said in a press release.

Transactions in the Baltics will be handled on behalf of Jysk by its partner company Dalgas, the forestry division of the Danish group Hedeselskabet. Dalgas operates both in Denmark and internationally, including in the Baltic states.

After Swedish-owned Sodra Forest Estonia put 16,000 hectares of forest land in Estonia up for sale earlier this year, speculation arose about whether Jysk was aiming to purchase the land.

However, Rasmus Boserup, Lars Larsen Group's head of communications, declined to go into details, telling Postimees that the company does not wish to comment on its planned acquisition portfolio.

"As for the geographical distribution of investments in the Baltics, we have no predetermined targets. We are guided by commercial considerations," he said.