Overseas investment decision for case 202200257 - Ziwi Limited | Toitū Te Whenua

Decision	Consent granted Section 13(1)(c) Overseas Investment Act 2005
Decision maker	Toitū Te Whenua LINZ
Decision date	27 July 2022
Pathway(s)	Significant business assets only
Investment	Acquisition of 100% of the shares in Freeze Dried Foods New Zealand Limited and 55% of the shares in Kiwigarden Limited
Asset value	Withheld under s9(2)(b)(ii) of the Official Information Act
Applicant	Ziwi Limited USA 57.11% Canada 19.96% New Zealand 5.25% Hong Kong 4.38% Various 13.30%
Vendor	Universal Investments (HB) Limited and Sandbar Holdings Limited New Zealand 100%
Background	Ziwi Limited is New Zealand’s premium pet food manufacturer, exporter and wholesaler. The Applicant is acquiring 100% of the shares in Freeze Dried Foods New Zealand Limited (FDF) and 55% of the shares in Kiwigarden Limited (Kiwigarden). It is noted FDF owns the remaining 45% of shares in Kiwigarden. FDF is a market leader in the New Zealand freeze drying sector. Kiwigarden is in the business of producing, marketing and selling freeze dried snack food products for human consumption. Kiwigarden uses FDF’s freeze dryers and know-how to produce a range of freeze-dried snacks, catering primarily for children. The Proposed Transaction is the acquisition by the Applicant of the shares in FDF and Kiwigarden from the vendors. The Applicant has satisfied the investor test criteria.
More information	Andrew Petersen Bell Gully (Auckland) PO Box 4199 Auckland 1140