Decision Summary - Negociants New Zealand Limited

The application has been approved as it met the criteria.

The Overseas Investment Office is satisfied that the individuals with control of the Applicant collectively have business experience and acumen relevant to the overseas investment, and that the Applicant has demonstrated financial commitment towards the overseas investment.

The Overseas Investment Office is further satisfied that each individual that exercises control over the Applicant is of good character and is not an individual of the kind referred to in section 7(1) of the Immigration Act 1987.

Background:
The Applicant's newly opened Nautilus Estate Winery in Renwick produces sauvignon blanc, chardonnay, and pinot noir wines from grapes grown at vineyards throughout the Marlborough region and the South Island. The Land is located near to Nautilus Estate and is currently used as a sauvignon blanc vineyard.

Rationale:
The Applicant wants to grow its own grapes rather than purchase grapes from other vineyards. The Applicant estimates that by growing its own sauvignon blanc grapes on the land it will save between 5 -10% per litre on the costs of producing a vintage. The grapes will be used to produce the Applicant's second tier Twin Islands Sauvignon Blanc brand for export.

The proposed investment will or is likely to benefit New Zealand (or any part of it or group of New Zealanders) having regard to the following factors:

1. Overseas Investment Act 2005:
   1. s17(2)(a)(iv) - Greater efficiency or productivity
   2. s17(2)(a)(v) - Additional investment for development purposes.
2. Overseas Investment Regulations 2005:
   1. r28(c) - Adversely affect New Zealand's image overseas
   2. r28(e) - Previous investments of benefit to New Zealand
   3. r28(g) - Enhance ongoing viability of other investments.