| Decision | Consent Granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 24 June 2019 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a leasehold interest in 1.2512 hectares of land at 11 Kordel Place, East Tamaki, South Auckland. |
| Consideration | $13,416,000 |
| Applicant | Vitaco Health (NZ) Limited China Public (31.7%) Shanghai Industrial Investment (Holdings) Co., Ltd and Shanghai Shangshi (Group) Co., Limited, China, People's Republic of (14.3%) Various overseas persons (29.1%) United States Public (12.3%) Cayman Islands Public (5.9%) Hong Kong Public (3.4%) British Virgin Islands Public (3.3%) |
| Vendor | East Tamaki Investments Limited New Zealand (100%) |
| Background | The Applicant is a manufacturer of health supplements and specialist food and beverage products with an existing production base at Kordel Place, East Tamaki, South Auckland. The Applicant has been operating in New Zealand since 2006. The Applicant intends to use the leasehold premises to expand its production capacity by using the land as a warehousing and distribution centre, increasing production space at its existing sites. The increased production space will allow the Applicant to increase export receipts and increase the processing of milk leading to an increase in processing of a New Zealand primary product. The Applicant has also undertaken previous investments in the area which have been of benefit to New Zealand. |
| More information | Ben Paterson Russell McVeagh PO Box 8 AUCKLAND |