| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 10 September 2021 |
| Pathway(s) | Significant business assets only |
| Investment | Acquisition of 100% of the shares in Hexagon Holdings Limited and its subsidiaries |
| Consideration | Withheld under s 9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | Multi-Color (New Zealand) Holdings Pty Limited United States of America (36.9%) Netherlands (12.8%) Saudi Arabia (7.4%) Switzerland (6.6%) People’s Republic of China (4.8%) Japan (4.5%) Finland (4.4%) Sweden (4.0%) Denmark (3.0%) Various (15.6%) |
| Vendor | Shareholders of Hexagon Holdings Limited New Zealand (78.95%) United States of America (15.51%) Australia (3.50%) United Arab Emirates (1.39%) Various (0.66%) |
| Background | The Applicant is seeking consent to acquire 100% of the shares in Hexagon Holdings Limited (the Target) and its subsidiaries, which include four operating New Zealand-incorporated companies and two operating Australian-incorporated companies. The larger Multi-Color Corporation Group is a global label solution provider and offers a comprehensive range of label technologies. The Target is a holding company for independent label manufacturing businesses in Australia and New Zealand. These businesses predominantly supply pressure sensitive labels, shrink sleeve packaging, and linerless wraps. The Applicant intends to continue running the Target’s businesses in the same manner. The Applicant has satisfied the OIO that the investor test has been met. |
| More information | Mark Stuart |