Overseas investment decision for case 202200645 - Joval Wine Group (NZ) Limited

Joval Wine Group (NZ) Limited has received consent to acquire approximately 19.0515 hectares of land located at Bendigo Loop Road, Bendigo, near Cromwell, Central Otago. The land comprises an existing vineyard.

The Applicant is ultimately owned by an Australian family. It owns and operates vineyards in the Waihopai Valley in the Marlborough region, where it produces the Catalina Sounds and Crowded House wine brands and in Central Otago, where it produces under the Nanny Goat wine brand.

The Applicant will develop the land through replanting 2.6 ha with premium grapes and implementing vineyard management systems to improve fruit quality. It intends use grapes grown from the Land in its premium 'Nanny Goat Vineyard' wine. More intensive vinicultural methods are likely to result in an additional 2.5 FTE jobs.

The acquisition of the land will allow synergies and economies of scale with the nearby Nanny Goat Vineyard. A new Cellar Door will be constructed at the Nanny Goat Vineyard.

Consent was granted as the Applicant met the investor test criterion and that the benefit likely to occur as a result of the investment would benefit New Zealand.