| Decision | Consent granted Section 12(1)(b) and Section 13(1)(c) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 07 August 2026 |
| Pathways | Sensitive land - Farm land benefit test Significant Business Assets |
| Investment | Acquisition of 100% of the shares in Indus Valley Limited which has an interest in approximately: a) 237 hectares of freehold land at:
b) 663 hectares of leasehold land at:
|
| Consideration | Withheld under section 9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | Benedict Holdings Limited Australia 34% |
| Vendors | The shareholders of Indus Valley Limited New Zealand 27% |
| Background | The Applicant is owned by investment funds managed by Navis Capital Partners (a Malaysian private equity firm) and Pacific Equity Partners (an Australian private equity firm). The Applicant is buying all of the shares in Indus Valley Limited (Indus), a vertically integrated egg, poultry and stockfeed production business operating in various locations across New Zealand. Navis Capital Partners currently controls Indus, and it will retain indirect majority control over Indus, through the Applicant. The Applicant intends to develop a new free-range layer hen farm on the Ranfurly land. It also intends to invest in a new egg grader for an Auckland post-production facility and convert the Waikouaiti colony farm into a barn operation. The investment is likely to result in the introduction of capital for development purposes and greater productivity of feed mill and egg processing facilities to support the new layer hen farm. Consent was granted as the Applicant has met the investor test criterion and the investment is likely to benefit New Zealand. |
| More information | Glenn Shewan Bell Gully (Auckland) PO Box 4199 Auckland 1140 |