Section 13(1)(c) Overseas Investment Act 2005
|Decision maker||Toitū Te Whenua LINZ|
|Decision date||27 July 2022|
|Pathway(s)||Significant business assets only|
|Investment||Acquisition of 100% of the shares in Freeze Dried Foods New Zealand Limited and 55% of the shares in Kiwigarden Limited|
|Asset value||Withheld under s9(2)(b)(ii) of the Official Information Act|
Universal Investments (HB) Limited and Sandbar Holdings Limited
Ziwi Limited is New Zealand’s premium pet food manufacturer, exporter and wholesaler. The Applicant is acquiring 100% of the shares in Freeze Dried Foods New Zealand Limited (FDF) and 55% of the shares in Kiwigarden Limited (Kiwigarden). It is noted FDF owns the remaining 45% of shares in Kiwigarden.
FDF is a market leader in the New Zealand freeze drying sector. Kiwigarden is in the business of producing, marketing and selling freeze dried snack food products for human consumption. Kiwigarden uses FDF’s freeze dryers and know-how to produce a range of freeze-dried snacks, catering primarily for children. The Proposed Transaction is the acquisition by the Applicant of the shares in FDF and Kiwigarden from the vendors.
The Applicant has satisfied the investor test criteria.
|More information||Andrew Petersen
Bell Gully (Auckland)
PO Box 4199
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