Section 12(a) Overseas Investment Act 2005
|Decision Maker||The Minister for Land Information and the Associate Minister of Finance|
|Decision Date||11 December 2018|
|Investment||An overseas investment in sensitive land, being the Applicant's acquisition of:|
|Applicant||Nishi Sake Selling Co., Ltd|
Urlar Farms Limited
Thomson Family Trust
The Applicant is a Japanese family company which has specialised in distilled beverage production for eight generations. Nishi Sake has recently expanded its product offering to include sake, bottled water and other Japanese soda drinks and now wishes to further expand to add New Zealand wine.
The Applicant believes that with its strong beverage distribution network in Japan, (which gives them access to a substantial number of restaurant clients), it can make Urlar Estate a well known and premium brand both in New Zealand and overseas.
The benefits that are likely to result from the Investment include the creation of new jobs resulting in a 50% increase in staffing at the vineyard, the introduction into New Zealand of additional funds for development for a new barrel room and cellar door, a five fold increase in export receipts generated from the Investment within the next 5 years and funding two New Zealand students through a Bachelors or Masters level course in viticulture and oenology at Lincoln University.
Combined we consider the benefits to New Zealand that are likely to occur as a result of the Investment are substantial and identifiable
|More information||Catherine Reid|