Overseas investment decision for case 201410025 - Constellation Brands New Zealand Limited | Toitū Te Whenua

Decision	Consent granted Section 12(a) Overseas Investment Act 2005
Decision Date	9 April 2014
Investment	An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 12.1400 hectares of land at 1261 Redwood Pass Road, Marlborough.
Consideration	$1,250,000
Applicant	Constellation Brands New Zealand Limited Constellation Brands Inc, United States of America (100.0%)
Vendor	Andrew Colin Graham New Zealand (100%)
Background	The Applicant is acquiring the land for the purposes of expanding its vineyards and winery business. The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'substantial and identifiable benefit to New Zealand' criteria were satisfied by particular reference to the following factors: Overseas Investment Act 2005 17(2)(a)(i) – Jobs 17(2)(a)(iii) – Increased export receipts 17(2)(a)(iv) – Greater productivity 17(2)(a)(iv) – Greater efficiency 17(2)(a)(vi) – Increased processing of primary products Overseas Investment Regulations 2005 28(a) – Consequential benefits 28(e) – Previous investments 28(g) – Enhance the viability of other investments 28(i) – Economic interests 28(j) – Oversight and participation by New Zealanders
More information	Tara Wylie Simpson Grierson Private Bag 92518 AUCKLAND 1141