| Decision | Consent granted Section 12(b) Overseas Investment Act 2005 Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 8 November 2016 |
| Investment | An overseas investment in sensitive land and significant business assets, being the Applicant's acquisition of rights or interests in 100% of the shares of BrewGroup Limited which owns or controls a leasehold interest in approximately 1.3745 hectares of land at 43 Crooks Road, East Tamaki, and the consideration of which exceeds $100 million. |
| Consideration | $110,250,000 |
| Applicant | Jacobs Douwe Egberts AU Pty Ltd JAB Holding Company s.a.r.l., Various (45.0555%) Various overseas persons (29.054%) United States Public (24.963%) Australian Public (0.5035%) Canada Public (0.424%) |
| Vendor | BTCC Finance Limited Pencarrow IV Investment Fund LP, New Zealand (47.84%) PPEM Nominees Limited, New Zealand (31.18%) New Zealand Public (16.44%) Mark Alan Hamilton, New Zealand (4.54%) |
| Background | The Applicant is the Australian-based subsidiary of Jacobs Douwe Egberts B.V., a Netherlands-based coffee and tea company which serves products to over 100 countries. BrewGroup Limited and its subsidiaries (“BrewGroup”) manufacture and sell tea and coffee in New Zealand and Australia. The BrewGroup’s leading brands include Bell Tea, Jed’s Coffee, Gravity and Hummingbird Coffee. The Applicant seeks to acquire the BrewGroup as a business complementary to its own. The Applicant intends to grow the BrewGroup’s brands in New Zealand and overseas following the overseas investment. In particular, the investment is likely to result in an increase of export receipts from European markets, added efficiency or productivity at the BrewGroup’s Auckland manufacturing facility and the introduction of additional capital into New Zealand for development purposes. The overseas investment transaction has satisfied the criteria in sections 16 and 18 of the Overseas Investment Act 2005. The 'benefit to New Zealand' criterion was satisfied by particular reference to the following factors: Overseas Investment Act 2005 Overseas Investment Regulations 2005 |
| More information | David Hoare Russell McVeagh PO Box 8 AUCKLAND |