Decision Consent granted
Section 12(a) Overseas Investment Act 2005
Decision makerOverseas Investment Office
Decision date31 October 2018
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 321.4120 hectares of land at Kakariki Farm Road, Kotemaori, Hawke’s Bay.
Consideration$1,100,000
ApplicantPan Pac Forest Products Limited
Japan (75.4%)
United States of America (10.6%)
United Kingdom (5.9%)
Various overseas persons (5.6%)
Belgium (2.5%)
VendorTaypier Forestry No 2 Limited
New Zealand (100%)
BackgroundThe Applicant is a fully integrated forestry and timber products company established to operate in the forestry and wood processing industries to acquire and operate forestry assets.
The Applicant intends to acquire the land to operate as a forestry plantation, to harvest the current commercial crop of Pinus radiata trees pursuant to an existing forestry right (expected to occur between 2022 and 2025), and then efficiently replant the land with a new commercial crop of Pinus radiata trees.
The benefits to New Zealand include:
  • increased processing of harvested trees;
  • advancement of the Government’s One Billion Trees programme; and
  • greater efficiency and productivity, in relation to the integrated harvesting and replanting of the land and the value obtained from the future harvest of the new commercial tree crop.
More informationPaul Foley
Minter Ellison Rudd Watts
Box 2793
WELLINGTON