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 freehold interest in approximately 6.4287 hectares of land at Felton Road, Bannockburn, Cromwell.
Consideration$1,500,000
ApplicantSauvage Family Vineyard
Marquis and Dianne Sauvage, United States of America (100%)
VendorVintner Holdings Bannockburn Limited
Yvon Emile Louis Montagnat, New Zealand (75.1%)
Marianne Aline Montagnat, New Zealand (24.9%)
Background

The Applicant has an established premium wine making and exporting business and wishes to buy the land to meet self-sufficiency targets and have security regarding the ongoing supply of grapes. 

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

  • Introducing a substantial amount of additional investment for development purpose to convert the land to an organic and biodynamic vineyard;
  • Successful previous investment in adjacent vineyard which generates export receipts and employment; and
  • Enhancing the viability of other investments by providing the Applicant with additional secure supply of quality grapes for its premium wine manufacturing
More informationElliot Goldman
Goldman Legal
PO Box 1399
Queenstown