| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 20 September 2024 |
| Pathway | Sensitive land - Residential land development (one off) |
| Investment | Acquisition of freehold interest in approximately 2,630 square metres of residential land at 57 and 59 King Street, Marton, Rangitikei. |
| Consideration | Withheld under section 9(2)(b)(ii) of the Official information Act 1982 |
| Applicant | Nestle New Zealand Limited Switzerland 47% United States of America 31% Various 16% Germany 6% |
| Vendors | Ma Corazon Borg Melvin Charles Maas and Christine Anne Maas New Zealand 100% |
| Background | The Applicant is wholly owned subsidiary of Nestlé S.A which is the world’s largest food and beverage company, based in Switzerland. Nestlé S.A engages in the production and sale of a large variety of products, including pet food. Nestlé New Zealand Limited has an existing pet food factory in Marton, Rangitikei and is acquiring two neighbouring properties adjacent to this factory. The properties will be cleared and used as a logistics operation area and accessway for the factory. Consent was granted as the Applicant met the investor test criterion and the investment is likely to meet the non-residential use test. |
| More information | Susie Kilty Buddle Findlay (Wellington) PO Box 2694 Wellington 6140 |