Overseas investment decision for case 202200134 - Totara Forestry Services Limited

The Applicant is part of the Craigmore Sustainables Group, who specialise in forestry investments in New Zealand.

The Applicant has been granted a standing consent for forestry activities, to allow it to acquire and continue to operate existing production forests. The Applicant intends to use the acquired land as part of its strategy to develop a more efficient and sustainable long term forestry business.

The standing consent is limited to:

• existing production forests, excluding farm land and residential land only;
• no more than 10,000 hectares of land;
• no more than 2,500 hectares per transaction;
• up to 20 transactions;
• land in the North Island only, but excluding land in the Gisborne Region and Wairoa District;
• the standing consent cannot be used to acquire an investment in a strategically important business; and
• transactions must be entered into by 13 October 2026, and be completed by 13 October 2027.

Consent was granted as the Applicant met the investor test criterion, the Applicant has demonstrated the conditions of the standing consent were likely to be met, the Applicant has adequate processes in place to meet the requirements of the special forestry test and the Applicant has a strong track record of compliance.