DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision Date5 September 2017
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 17.5980 hectares of land at 870 Te Matai Road, Te Puke, Tauranga.
Consideration$4,500,000
ApplicantCraigmore Permanent Crop Limited Partnership
Germany (30.46%)
Hong Kong (SAR) (24.45%)
Switzerland (15.23%)
United Kingdom (13.71%)
Finland (9.14%)
United States of America (3.96%)
New Zealand (3.05%)
VendorRobert William Thode and Olesen Trustees (2011) Limited as trustees of the Robert Thode Family Trust
New Zealand (100%)
Background

The Applicant is a limited partnership established as a horticulture investment vehicle and is part of the wider Craigmore Farming Group.

The land being acquired is currently being operated as a kiwifruit orchard growing a combination of Hayward and Kiwiberry kiwifruit. The Applicant intends to improve orchard production and export returns by grafting new G3 kiwifruit vines, converting part of the orchard to organic G3 kiwifruit production, and upgrading infrastructure.

The benefits to New Zealand include:     

  • creating additional direct and indirect jobs in relation to tending, picking, and packing kiwifruit;
  • increasing kiwifruit production;
  • increasing export receipts; and
  • capital investment for grafting existing vines to G3 kiwifruit and converting part of the orchard to organic G3 kiwifruit production.
More informationOliver Roberts
Duncan Cotterill 
PO Box 5
CHRISTCHURCH 8140