| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | The Minister for Land Information and the Associate Minister of Finance |
| Decision Date | 9 March 2021 |
| Pathway | Benefit to New Zealand |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 118.8263 hectares of land located at 847 Lake Road, RD1, Taupiri |
| Consideration | $9,500,000 |
| Applicant | Orient Europharma (NZ) Co Limited Taiwan (92.77%) Various (7.23%) |
| Vendor | Croasdale Farms Limited New Zealand (100%) |
| Background | The Applicant owns and operates a dairy goat farm and is a member of a dairy goat co-operative that processes, manufactures, and sells a range of dairy goat milk products. The Applicant is wholly-owned by a Taiwan-listed multinational pharmaceutical company. The Applicant intends to convert the land from a dairy cow farm into a dairy goat farm to produce goats’ milk. The goats’ milk will be supplied to the dairy goat co-operative, for manufacture into a range of dairy goat milk products, which are predominantly exported to Asia. The Applicant intends to invest approximately $3,500,000 over a three year period from 2021 - 2023 to convert the land from a cow dairy farm to a modern goat dairy farm, including capital expenditure on infrastructure and buildings. The investment is also likely to result in the creation of a least five new full-time equivalent jobs (to operate the farm), increased processing of primary products (increasing the volume of goats’ milk), and increased export receipts (increasing the volume of milk supplied for export). |
| More information | Bertha Wright Simpson Western Private Bag 93533 Takapuna AUCKLAND |