| Decision |
Consent granted |
|---|---|
| Decision maker | Overseas Investment Office |
| Decision date | 30 August 2022 |
| Pathway(s) | Profit a Prendre |
| Investment | 100% of the shares in Trees for Kiwis Limited |
| Consideration |
Withheld under section 9(2)(b)(ii) of the Official Information Act 1982 |
| Applicants | Darley-Graze Holding Limited and FinaNuts Holding Pty Limited |
| Vendor | B & K Limited and Tompkins Wake Custodians (PLFNZ) Limited (together holding all shares in Trees for Kiwis Limited) |
| Background |
The Applicants applied for consent to acquire 100% of the shares in Trees for Kiwis Limited, a New Zealand owned company which holds a profit a prendre forestry right over 6,294 hectares of land in Wairoa (Land). Darley-Graze Holding Limited is currently owned by B & K Limited, FinaNuts Holding Pty Ltd and Tompkins Wake Custodians (PLFNZ) Limited. FinaNuts Holding Pty Ltd is an indirect subsidiary of Société Financière des Sucres Société Anonyme (Finasucre). Finasucre is a Belgium based company involved in the sugar and lactic acid industries. Through the investment the Applicants will replant 1,000 hectares of the Land with native Mānuka trees. The Applicants have satisfied the investor test criterion. The main benefits to New Zealand include additional investment of $3 million; creation of 3 new FTE roles; future export receipts generated from the export of Mānuka honey; expanding the plantation by replanting 1,000 hectares of native Mānuka trees; the management of wilding pines; and increasing native bird habitats. |
| More information |
Amanda Spratt |