Overseas investment decision for case 202100729 - Foley Wines Limited

The Applicant produces and sells wines in New Zealand as part of the larger Foley Family Wines group. The Applicant operates a collection of wineries in Martinborough, Marlborough, and Central Otago. 

The Applicant has been granted consent to acquire approximately 55.125 hectares of land at 1750 Tarras-Cromwell Road, Central Otago Region (the Land). 

The Land is an existing vineyard, known as the Zebra Bendigo Flat Vineyards. It is planted in approximately 30.87 hectares of pinot noir. There is approximately 24.65 hectares of vacant area, but only 12.6 hectares is capable of further planting (the Vacant Area). The Applicant intends to maintain the existing vines on the Land and plant the Vacant Area in pinot gris and sauvignon blanc. The Applicant intends on using the grapes produced on the Land for the production of wines under its current brands. 

This investment will likely increase productivity of the Vacant Area and the grapes produced will lead to an increase in processing of primary products. The Applicant has undertaken previous investments that have and will continue to provide benefits to New Zealand. This investment will enhance the viability one of those previous investments. The grape supplied from the Land will enhance the Applicant’s Roaring Meg brand, which is part of the Applicant’s previous investment in the Mt Difficulty brand. The Applicant is also likely to introduce additional investments of over $1 million to develop the Vacant Area. 

The Ministers are satisfied that the benefit to New Zealand will be substantial and identifiable and that the investor test has been met.