| Decision | Consent Approved Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | The Minister for Land Information and the Associate Minister of Finance |
| Decision date | 14 September 2022 |
| Pathway(s) | Benefit to New Zealand (Benefit to New Zealand - Farm land) |
| Investment | Overseas Investment in approximately 51.9706 hectares of sensitive land at 210 and 264 Cairnmuir Road, Bannockburn, Cromwell, Central Otago (the Land) as well as the winery business on the Land. |
| Land value | $10,087,000 |
| Applicant | EDR-H New Zealand Limited France 100% |
| Vendor | Akarua Limited New Zealand 100% |
| Background | EDR-H New Zealand Limited (The Applicant) is an existing vineyard owner and operator in New Zealand. The Applicant owns and operates the Rimapere Vineyard in Marlborough. The Applicant is part of the Edmond de Rothschild estate group who have been involved in the international wine industry since 1868. The Rothchild group also owns vineyards across France, South Africa Argentina and Spain. The Applicant intends to continue operating the land as a vineyard but will plant additional vines and upgrade the vineyard to enable the vineyard to produce premium and super premium wine. The Applicant intends to undertake additional investments for replanting and vineyard and winery improvements. The Applicant claims this will result in increasing the production, quality and premiumisation and therefore the value of the wine produced from the vineyard, resulting in a substantial benefit to New Zealand. |
| More information | Catherine Reid Catherine Reid Barrister catherine@catherinereid.co.nz |
See the attached assessment report linked below, which was published in response to an Official Information Act request: