Overseas investment decision for case 200520086 - Nobilo Wine Group Limited

The application has been approved as it met the criteria.

The Overseas Investment Office is satisfied that the applicant has significant business experience and acumen relevant to and is demonstrating financial commitment towards the investment. The Overseas Investment Office is further satisfied that the persons who exercise control over the applicant are of good character and not the kind of persons referred to in section 7(1) of the Immigration Act 1987.

The Applicant carries out a fully integrated viticulture business, which includes the growing and development of grapes, and the manufacture, importation, distribution and sale of red and white wine within New Zealand and, increasingly, for export markets. The Applicant advises that export growth has been constrained by grape supply. The Applicant proposes to acquire the subject property, currently used for pastoral purposes, to undertake a viticultural development in order to secure an additional grape supply. The property contains a plantable area of approximately 76 hectares which is likely to be planted in sauvignon blanc.

The proposal is likely to result in the following benefits:

1. the creation of new job opportunities;
2. the introduction of additional investment for development purposes;
3. increased efficiencies to Nobilo's viticultural business; and
4. increased processing of primary products.