| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 21 December 2015 |
| Investment | An overseas investment in significant business assets, being Pacific Health Group Limited’s acquisition of rights or interests in up to 100.0% of the shares of Manuka Health New Zealand Limited (New Zealand company number 1542649), the consideration of which exceeds $100m. |
| Consideration | $110,000,000 |
| Applicant | Pacific Health Group Limited (New Zealand company number 5789318) which is wholly owned by certain overseas investment funds managed and/or advised by Pacific Equity Partners Pty Limited (PEP), an Australian incorporated private equity fund manager, and PEP’s affiliates. |
| Vendor | Existing shareholders of Manuka Health New Zealand Limited New Zealand Public (93.08%) China Public (6.92%) |
| Background | Manuka Health New Zealand Limited is a privately owned New Zealand company that develops, manufactures and distributes (both in New Zealand and overseas) Manuka honey and various other Manuka based products. The Investment is an opportunity for the Applicant (with the support and expertise of PEP, and additional capital which may be invested) to further broaden and grow Manuka Health New Zealand Limited’s business in New Zealand and in overseas markets. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | David Hoare Russell McVeagh PO Box 8 AUCKLAND 1140 |