| Decision | Consent granted Section 12(1)(b) and Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 7 September 2026 |
| Pathways | Sensitive land - Farm land Significant Business Assets |
| Investment | Acquisition of 100% of the shares in Greenlea Group Limited, which gives the Applicant an indirect freehold interest in approximately 492.904 hectares of sensitive land in the Waikato. |
| Consideration | $800,000,000 |
| Applicant | ANZCO Foods Limited Japan 81% United States of America 10% Various 7% United Kingdom 2% |
| Vendors | The shareholders of Greenlea Group Limited New Zealand 100% |
| Background | The Applicant is one of New Zealand's largest meat processing companies, exporting beef and lamb to over 80 countries. It is ultimately owned by ltoham Yonekyu Holdings Inc., a Japanese meat company listed on the Tokyo Stock Exchange. Greenlea Group Limited and its subsidiaries operate a meat processing and distribution business, exporting New Zealand beef to various countries around the world. The Greenlea Group’s meat processing plants are located in Hamilton and Morrinsville. As part of the transaction, the Applicant will also acquire indirect interests of approximately 33% in Waitoa Farms Limited, Waitoa Natural Proteins Limited, Waitoa Industrial Estate Limited and an indirect interest of 50% in Waitoa Tannery Limited. Waitoa Farms Limited owns approximately 413 hectares of farm land. No changes are proposed to the use of this land. The Applicant’s two existing beef processing plants have certain operational constraints, and the investment will give the Applicant ownership of Greenlea’s two North Island plants which will enable it to increase its processing capacity. The main benefits to New Zealand are likely to include:
Consent was granted as the Applicant met the investor test criterion and the investment is likely to benefit New Zealand. |
| More information | Guy Bidwill Chapman Tripp PO Box 2206 Auckland 1140 |