Foley Family Wines Holdings, New Zealand Limited

• a freehold interest in 65.098 hectares of land at Ruakokoputuna Road, Ruakokoputuna, South Wairarapa; and
• a freehold interest in 8.559 hectares of land at 89-91 Martins Road, Martinborough; and
• a freehold interest in 17.33 hectares of land at Longbush Road, Longbush, South Wairarapa; and
• a leasehold interest in 37.1685 hectares of land at 50 Martins Road, Martinborough.

The Vendor is a grower and producer of premium and super premium New Zealand wine. The Vendor owns and leases sensitive land in the Wairarapa region and holds 50% of the shares in McLeod Vineyard Limited.

The Applicant considers that the Vendor has quality brands in market segments that are complementary to its business. It believes that under its ownership the business will be able to increase its exports to the United States and other countries utilising its distribution network and access capital to facilitate future expansion and growth.

The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'substantial and identifiable benefit to New Zealand' criteria were satisfied by particular reference to the following factors:

• 17(2)(a)(i) – Creation/Retention of jobs
• 17(2)(a)(iii) – Increased export receipts
• 17(2)(a)(v) – Additional investment for development purposes
• 17(2)(f) – Offer to sell seabed/foreshore/riverbed to the Crown

• 28(e) – Previous investments
• 28(f) – Advance significant government policy or strategy
• 28(g) – Enhance the viability of other investments