DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision Date14 December 2017
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a leasehold interest in 19.9142 hectares of land at 112 Tennant Road, Hastings.
Consideration

 $1,847,397.40

ApplicantT&G Global Limited
Germany (73.99%)
China (19.99%)
New Zealand Public (5.93%)
Various overseas persons (0.09%)
VendorGeoffrey Kenneth Taylor, Carolyn Marie Taylor, and SH 5 Trustee Limited as trustees of the Tennant’s Bend Farm Trust
New Zealand (100%)
Background

Apollo Apples (2014) Limited is a 100% subsidiary of the Applicant. The Applicant is a grower, distributor, marketer, exporter, and processor of fresh produce.

The Applicant intends to use the land to develop an apple orchard, growing Envy, Jazz, and Galaxy apple varieties predominantly for export, with the expected end of the orchard life being in 2040.

The investment is likely to result in the following benefits to New Zealand:

  • creating additional jobs in relation to planting, pruning, picking, and packing apples;
  • increasing apple production;
  • increasing export receipts;
  • capital investment for infrastructure, fencing, irrigation, tree planting, and maintenance; and
  • additional royalties for plant variety rights payable to Plant & Food Research.
More informationJoe Windemeyer
Russell McVeagh
PO Box 8
AUCKLAND