| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 8 April 2022 |
| Pathway(s) | Significant business assets only National Interest assessment |
| Investment | 100% of the shares in Kiwiplan Packaging Systems NZ |
| Consideration | Over $100,000,000 (exact amount uncertain) |
| Applicant | Berry New Zealand Bidco USA (61.13%); Cayman Islands (7.21%); China (6.44%); Canada (4.02%); Singapore (3.37%); Luxembourg (2.82%); Germany (2.23%); Various (12.78%) |
| Vendor | Signode Switzerland GmbH USA (100%) |
| Background |
The Applicant is seeking consent to acquire 100% of the shares in Kiwiplan Packaging Systems NZ (Target) and its wholly-owned subsidiary Kiwiplan NZ. The Applicant is ultimately majority-owned by funds managed by TA Associates, a global growth private equity firm based in Boston, USA that is focused on sectors within the technology, healthcare, financial, consumer, and business services industries. The Target is part of the Kiwiplan Group of companies that operates a business of developing, marketing, licensing, distributing, selling, supporting, maintaining, and providing manufacturing execution systems and related order management, inventory management, and data analytics software for paper-based packaging manufacturers. The Target and its subsidiary undertake all software programming, testing of source code, write all technical documentation (including user manuals, release notes, and associated documents), and also provide technical support for customer issues that cannot be resolved by the support team in the other Kiwiplan Group offices. The Applicant has satisfied the OIO that the investor test has been met. The Minister of Finance has decided that the investment is not contrary to New Zealand national interests. |
| More information |
Simon Vannini |