| Decision | Consent granted Section 13(1)(b) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 1 November 2021 |
| Pathway(s) | Significant business assets only |
| Investment | Establishment of business |
| Asset Value | Over $100,000,000 |
| Applicant | Olam Food Ingredients New Zealand Limited Singapore (71.60%) Japan (18.90%) United Kingdom (6.00%) Various (3.50%) |
| Background | Olam International Limited is a global, integrated supply chain manager of agricultural products and food ingredients. The Applicant operates its food and agri-business commercial activities in New Zealand. The Applicant owns property at 90 Browning Street Tokoroa, which is not sensitive land under the Act. The Applicant plans to construct a dairy processing plant there in order to establish its dairy processing capacity in New Zealand. Because the Applicant is establishing a business in New Zealand that is carried on for more than 90 days in any year and the total expenditure expected to be incurred, before commencing the business, in establishing that business exceeds $100 million, consent under the Act is required. The Applicant has satisfied the OIO that the individuals who will control the investment have the relevant business experience and acumen and are of good character. The Applicant has also demonstrated financial commitment to the investment. |
| More information | Susie Kilty Buddle Findlay (Auckland) PO Box 1433 Auckland 1140 |