Overseas investment decision for case 202400149 - SFJ Holdings Limited

Consent Granted
Section 12(1)(a) Overseas Investment Act 2005

Toitū Te Whenua Land Information New Zealand

20 June 2024

Sensitive land – Benefit to New Zealand

Acquisition of:

• up to 100% of the shares in Ashburton Meat Processing Limited which has a freehold interest in approximately 20 hectares of land at 170 Bridge Street, Ashburton; and 
• a freehold interest in approximately 17 hectares of land at Corner of Glassworks Road and Bridge Street, Ashburton, for meat processing activities

$15,000,000

The Applicant is a subsidiary of S Foods Inc, a Japan-based company mainly engaged in the manufacture and sale of meat products, which is listed on the Tokyo Stock Exchange.  

The land is currently used for processing meat and managing associated waste.  

The Applicant will expand the meat processing facility through constructing a new beef processing chain.  Following the expansion, the facility will also start processing Wagyu beef. 

The main benefits to New Zealand are likely to include increased jobs, increased productivity, increased export receipts and capital expenditure.

Consent was granted as the Applicant has met the investor test criterion and the investment is likely to benefit New Zealand.

Nick Strettell
C/- Saunders Robinson Brown
SRB House 
128 Kilmore Street
Christchurch 8013