| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 25 June 2025 |
| Pathway | Sensitive land - Farm land benefit test |
| Investment | Acquisition of a leasehold interest in approximately:
|
| Consideration | Withheld under s9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | T&G Global Limited Germany 74% Hong Kong (SAR) 20% New Zealand 6% |
| Vendor | Roc Apple PropCo Pty Ltd Australia 100% |
| Background | The Applicant is a New Zealand-incorporated grower, distributer, marketer and exporter of a variety of fresh produce including apples. The Applicant, has partnered with Roc Apple PropCo Pty Ltd, an Australian private equity fund specialising in agricultural investments (Roc Apple). Roc Apple will purchase freehold interests in 2 apple orchards in the Hawkes Bay (decision 202500215) and subsequently lease them to a wholly owned subsidiary of the Applicant - ENZAFruit New Zealand International Limited (ENZAFruit). ENZAFruit will redevelop the land, which is currently mostly planted in older varieties of apples, and will replant and grow Envy and/or Joli apples. The main benefits to New Zealand are likely to include substantial economic benefit through increased capital expenditure of $17.7 million, increased productivity and increased export receipts. Consent was granted as the Applicant met the investor test criterion and the investment is likely to benefit New Zealand. |
| More information | Rachael O'Malley Russell McVeagh (Auckland) PO Box 8 Auckland 1140 |