| Decision | Consent granted |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 5 June 2024 |
| Pathway(s) | Sensitive land – Farm land benefit test |
| Investment | An overseas investment in sensitive land of interests in Hastings land:
|
| Consideration | $35,300,000 |
| Applicant | Inghams Enterprises (NZ) Pty Limited |
| Vendors | Bostock Group Limited and Ben and George Limited as shareholders of Bostock Brothers Limited John Bostock Properties Limited Benjamin Michael Bostock and Nicola Rose Bostock |
| Background | The Applicant is a subsidiary of Australian listed company Inghams Group Limited. It seeks to acquire up to 100% of the shares in Bostock Brothers Limited, which owns the land at 116 Raukawa Road and 284 Ngatarawa Road and leases the land at 117 Parkhill Road. It also seeks to acquire 81 Raukawa Road that is currently leased by Bostock Brothers Limited. The Applicant will continue to operate the poultry business on the land. It will develop the business through the construction of additional chicken sheds and through improvements to processes such as for staff safety and biosecurity. The main benefits to New Zealand are likely to include capital expenditure, a more reliable supply of primary products and job creation. Consent was granted as the Applicant has met the investor test criterion and the investment is likely to benefit New Zealand. |
| More information | Andrew Petersen |