Applicant
Constellation Brands New Zealand Limited
Case number(s)
201320045
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date19 December 2013
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a leasehold interest in 24.3132 hectares of land at 127 Gifford's Creek Lane, Rapaura, Marlborough.
Consideration$5,182,187
ApplicantConstellation Brands New Zealand Limited
Constellation Brands Inc, United States of America (100.0%)
VendorGraham Rex Gifford, Shirley June Gifford and Wain & Naysmith Trustees No 4 Limited
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 ‘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)(v) – Additional investment for development purposes17(2)(a)(vi) – Increased processing of primary products

More informationTara Wylie
Simpson Grierson
Private Bag 92518
Wellesley Street
AUCKLAND