| Decision | Consent Granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 10 December 2019 |
| Pathway | Sensitive land – benefit to New Zealand |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 5.8100 hectares of land at 20 Puaki Drive, Wiri, Auckland. |
| Consideration | $33,988,500 |
| Applicant | GPC Asia Pacific Limited United States (83.8%) United Kingdom (4.8%) Various overseas persons (11.4%) |
| Vendor | Calder Stewart Development Limited New Zealand (100%) |
| Background | The Applicant was incorporated in New Zealand and is a member of the Australasian GPC Asia Pacific Group, the largest automotive aftermarket parts supplier in Australia and New Zealand. GPC Group resells and distributes automotive replacement parts, accessories and related tools and equipment. The Applicant intends to build a distribution site on the land, consisting of a fulfilment centre and a standard warehouse, which may include office facilities, a product showroom and a trading branch. The Applicant plans to introduce a unique type of automated “goods-to-person” technology that will automate its storage and retrieval system. This technology is expected to increase efficiency in the Applicant’s business processes. The Applicant currently employs over 1,000 people throughout the country and operates over 115 retail and trade branches under multiple brands, including 85 Repco stores, which are supported by 5 warehouses. |
| More information | Tara Wylie Simpson Grierson Private Bag 92518 Auckland 1141 |