Overseas investment decision for case 202200328 - Taumata Plantations Limited

The Applicant is one of the largest forestry owners in New Zealand, owning or controlling over 157,000 hectares (123,400 planted) of forestry estate in the North Island. 

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 standing consent to acquire small parcels of land as part of boundary adjustments, small forestry blocks (up to 2,500 ha) adjoining or in the vicinity of its existing forestry estates and to renew, re-grant or extend existing forestry leases and forestry rights.

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 15 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 12 October 2026, and be completed by 12 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.