Section 13(1)(a) Overseas Investment Act 2005
|Decision Date||16 March 2017|
|Investment||An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in up to 100% of the issued share capital in Hanger Holdings Limited, the consideration for which exceeds $100m.|
|Applicant||NBS Holdings Limited|
United States Public (87.3%)
United Kingdom Public (4.2%)
Canadian Public (2.8%)
Japanese Public (1.2%)
Norway Public (0.8%)
Swiss Public (0.8%)
Various overseas persons (2.9%)
|Vendor||Lindsay Investment Trust and Alton Trust|
New Zealand (100%)
The Applicant is a wholly owned subsidiary of Newell Brands Inc (Newell), is a global marketer of consumer and commercial products including Paper Mate®, Sharpie®, EXPO®, Parker®, Marmot®, Sunbeam®, Mr. Coffee®, Rubbermaid Commercial Products®, Graco®, Baby Jogger®, NUK®, Rubbermaid®, and First Alert®.
Hanger Holdings Limited is the ultimate holding company of Sistema Plastics Limited (Sistema) and its subsidiaries. Sistema carries on business in New Zealand as a designer, manufacturer and global supplier of a range of plastic food and beverage storage containers and plastic storage containers.
Newell intends to continue to:
The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005.
|More information||Susie Kilty|
PO Box 2694