| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 14 October 2025 |
| Pathway | Significant business assets |
| Investment | Acquisition of up to 100% of the shares in Aardvark TopCo Pty Limited |
| Consideration | Withheld under s9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | Barrel BidCo Pty Limited A company managed and advised by Hospitality 2025 Pte. Ltd, PAGAC IV-1 (Singapore) Pte. Ltd., or their associates, alongside certain management personnel of the Australian Venue Co Group, comprised of entities which are 99.96% overseas owned. |
| Vendor | Shareholders of Aardvark TopCo Pty Limited Middle East and Asia 36% North America 29% Australasia 16% Various 19% |
| Background | The Applicant is a special purpose vehicle incorporated for the purposes of this transaction and, following implementation of the transaction, will be indirectly owned by Hospitality 2025 Pte. Ltd. (Singapore) and PAGAC IV-1 (Singapore) Pte. Ltd., or their associates, alongside certain management personnel of the Australian Venue Co Group. By acquiring Aardvark TopCo Pty Limited, the Applicant will acquire an indirect interest in the Australian Venue Co Group, a hospitality group that operates over 240 pubs, bars restaurants, and event venues across Australia and New Zealand. The Australian Venue Co Group includes two New Zealand subsidiaries NZ Venue Co Holdings Limited and NZ Venue Co Limited. This applicant was subject to a national interest assessment because following implementation of the transaction, the Applicant will be a non-New Zealand Government investor. The Minister of Finance has decided that the Investment is not contrary to New Zealand’s national interest. Consent was granted as the Applicant has met the investor test criterion. |
| More information | Josh Blackmore Chapman Tripp PO Box 993 Wellington 6140 |