Applicant
Agright New Zealand OpCo 1 Limited
Case number(s)
202100636
Decision date
Type
Decision
Decision Consent granted
Section 12(1)(a) Overseas Investment Act 2005
Decision Maker Overseas Investment Office
Decision Date 25 May 2022
Pathway(s) Benefit to New Zealand (Benefit to New Zealand - Farm land)
Investment 21.787 hectares of land located at 1291 Alexandra Road, Waharoa, Waikato
Consideration Withheld under s9(2)(b)(ii) of the Official Information Act 1982
Applicant Agright New Zealand OpCo 1 Limited
Australia (53%)
New Zealand (22.82%)
Canada (10.57%)
Luxembourg (9.09%)
Cayman Islands (3.19%)
USA (1.27%)
Jersey (0.06%)
Vendor Agright Limited Partnership
New Zealand (100%)
Background

The Applicant wishes to acquire approximately 21.7870 hectares of sensitive farmland located at 1291 Alexandra Road, Waharoa, Waikato (the Land) and associated farming assets located on the Land.

The Land is currently operated as a broiler chicken farm. Broiler chickens are chickens farmed for their flesh, rather than their eggs. There are six chicken sheds on the Land, with capacity for approximately 40,000 – 50,000 chickens.

The Investment is likely to result in economic benefits arising directly and indirectly from the installation of a solar energy system. The Applicant’s plans would result in:

  • additional investment for development purposes;
  • an additional FTE position;
  • the introduction of solar energy technology resulting in greater energy efficiency; and
  • the reduction of the farm’s energy ‘footprint’, which will advance Government policy by resulting in a net zero emissions operation. 

Taking into account the size and characteristics of the Land, the OIO considers that: the Investors are suitable persons to invest in New Zealand and the overseas investment is likely to benefit New Zealand.
More information Ben Paterson
Russell McVeagh
PO Box 8
Auckland 1140