Overseas investment decision for case 201520011 - Canoe Wines Limited Partnership | Toitū Te Whenua

Decision	Consent granted Section 12(a) Overseas Investment Act 2005
Decision Date	12 November 2015
Investment	An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 10.35 hectares of land at Pirinoa Vineyard, Lake Ferry Road, Martinborough.
Consideration	$1,100,000
Applicant	Canoe Wines Limited Partnership Francis Jay Short, United States of America (50.0%) Peggy Ann Dupey, United States of America (50.0%)
Vendor	Personal Property Limited Peter Croft, New Zealand (100.0%)
Background	The Applicant currently owns and operates the Nga Waka vineyard and winery located in Martinborough. It is acquiring the land to provide an additional secure grape supply to enable Nga Waka to successfully expand its wine business and increase its export capacity. 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)(iii) – Increased export receipts 17(2)(a)(iv) – Greater efficiency and productivity 17(2)(a)(v) – Additional investment for development purposes 17(2)(a)(vi) – Increased processing of primary products Overseas Investment Regulations 2005 28(e) – Previous investments
More information	Catherine Reid Gibson Sheat PO Box 2966 Wellington