Foley Family Wines Holdings, New Zealand Limited
Sections 12(a) and 12(b) Overseas Investment Act 2005
|Decision date||30 August 2011|
|Investment||An overseas investment in sensitive land, being the Applicant's acquisition of:
|Applicant||Foley Family Wines Holdings, New Zealand Limited
(United States of America 91.14%, Australia 6.5%, New Zealand 2.36%)
|Vendor||Te Kairanga Wines Limited
(New Zealand 100.0%)
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:Overseas Investment Act 2005
|More information||Gavin J Macdonald
Bell Gully (Auckland)
PO Box 4199
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