Applicant
Institut de Sélection Animale (South Island) Limited
Case number(s)
202400528
Decision date
Type
Decision
DecisionConsent granted
Section 12(1)(a) Overseas Investment Act 2005
Decision makerToitū Te Whenua Land Information New Zealand
Decision date31 October 2024
PathwaySensitive land – Farm land benefit test
InvestmentAcquisition of a freehold interest in approximately 11 hectares of land at 811 Two Chain Road and 620 North Eyre Road, Swannanoa, Waimakariri
ConsiderationWithheld under section 9(2)(b)(ii) of the Official information Act 1982
ApplicantInstitut de Sélection Animale (South Island) Limited
Cayman Islands 37%
Netherlands 37%
New Zealand 7%
United States of America 5%
Various 14%
VendorSouthern Chicks Limited
New Zealand 74%
Various 26%
Background

The Applicant is a special purpose vehicle ultimately owned by Hendrix Genetics Holdings B.V. which is a multi-species animal breeding, genetics and technology company, incorporated in the Netherlands.  The Applicant is also 26% owned by Mainfeeds Limited, a New Zealand company and a division of Mainland Poultry Ltd. Mainfeeds specialises in the formulation and manufacture of chicken and other animal feed.

The investment is part of a wider transaction by the applicant including the acquisition of four other non-sensitive properties in New Zealand and a breeder operation business.

The main benefits to New Zealand are likely to include capital expenditure and the retention and creation of jobs.

Consent was granted as the Applicant has met the investor test criterion and the investment is likely to benefit New Zealand.

More informationTara Wylie
Simpson Grierson (Auckland)
Private Bag 92518
Auckland 1141