Applicant
Bardfield Farms Limited
Case number(s)
201120055
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date18 November 2011
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 10.1778 hectares of land at 207 Substation Road, Hororata, Canterbury.
Consideration$495,000
ApplicantBardfield Farms Limited
Mark Purcell Tapper, New Zealand (25.0%)
Smith (Garth Walton & Jan-Maree) and Hoogeveen (Nicholas Johannes), New Zealand (25.0%)
Alpair Pty Limited, Australia (16.7%)
Doug Hall Poultry Pty Limited, Australia (16.65%)
Campastco Pty Limited, Australia (16.65%)
VendorEdwin John Cross & Margaret Louise Ellis
New Zealand (100%)
Background

The Applicant is a wholly owned subsidiary of PIC NZ Holdings Ltd. The acquisition of the property will enable PIC NZ Holdings Ltd to increase, expand and develop its genetic breeding and pork products business in New Zealand.

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) – Creation of jobs
17(2)(a)(ii) – New technology or business skills
17(2)(a)(iv) – Greater efficiency/productivity
17(2)(a)(v) – Additional investment for development purposes

Overseas Investment Regulations 2005
28(b) – Key person in a key industry
28(e) – Previous investments
28(g) – Enhance the viability of other investments
28(i) – Economic Interests

More informationKate Telford
Hesketh Henry
Private Bag 92093
AUCKLAND