| Decision | Consent granted Section 12(b) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 26 August 2015 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of rights or interests in up to 100% of the shares of Barker Fruit Processors Limited which owns or controls a freehold interest in approximately 12.9550 hectares of land at 72 Shaw Road, Geraldine. |
| Consideration | $27,000,000 |
| Applicant | Andros et Cie SAS |
Vendor | Fruit Investments Limited and South Island Food Investments Limited |
| Background | Andros et Cie SAS ("Andros") is a French company that manufactures fruit and dairy products, such as the 'Bonne Maman' brand of jams and preserves. Andros operates 25 factories internationally and runs a global sales and distribution network. Andros considers Barker Fruit Processors Limited ("Barker's") is well aligned with its business, and it will seek to use its significant knowledge of the industry to make improvements and use its extensive distribution network to grow Barker's export 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 |
| More information | Susie Kilty/Nick Bragg Buddle Findlay PO Box 2694 WELLINGTON 6140 |