| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 15 November 2021 |
| Pathway(s) | Benefit to New Zealand (Benefit to New Zealand - S&I) |
| Investment | A leasehold interest in 12.9973 hectares of land located at 392 Tuki Tuki Road, Haumoana, Hawkes Bay |
| Consideration | Withheld under s.9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | T&G Global Limited Germany (73.99%) China, People's Republic of (19.99%) New Zealand (5.93%) Various (0.09%) |
| Vendor | Christopher John Moughan, Lorraine Moughan, Gerard Francis Moughan, FJ Moughan and Sons Limited New Zealand (100%) |
| Background | The Applicant is a New Zealand-incorporated grower, distributer, marketer and exporter of a variety of fresh produce including apples. The Applicant intends for its 100% subsidiary, ENZAFruit New Zealand International Limited, to acquire a leasehold interest in land at 392 Tuki Tuki Road, Haumoana. The Applicant intends to redevelop the land which is currently planted in older varieties of apples and areas of bare land, and will plant and grow high value Envy apples using the 2D planting system. We are satisfied the redevelopment of the land is likely to result in substantial and identifiable benefit to New Zealand, through increased jobs, export receipts, capital expenditure, royalties paid, and increased productivity and efficiency on the land. The Applicant has also demonstrated that it has provided benefit to New Zealand through previous investments. |
| More information | Rachael O'Malley Russell McVeagh (Auckland) PO Box 8 Auckland 1140 |