Overseas investment decision for case 202400473 - Kauri Forestry LP | Toitū Te Whenua

Decision	Consent granted Section 12(1)(a) Overseas Investment Act 2005
Decision maker	Toitū Te Whenua Land Information New Zealand
Decision date	09 September 2024
Pathway	Sensitive land - Farm land benefit test
Investment	Acquisition of freehold interest in approximately 234 hectares of land in the Hawkes Bay
Consideration	Withheld under section 9(2)(b)(ii) of the Official Information Act 1982
Applicant	Kauri Forestry LP Switzerland 69% Germany 31%
Vendor	Mr Apple New Zealand Limited New Zealand 74% Hong Kong (SAR) 15% Various 11%
Background	The Applicant is a New Zealand limited partnership, established as part of the Craigmore Sustainables Group. The Applicant has acquired approximately 234 hectares of freehold land in the Hawkes Bay, currently 187 hectares is used as an apple orchard. The Applicant intends to continue using the land as an apple orchard. The Applicant plans to redevelop 52 hectares of existing orchard and develop 14 hectares of the land with high value apple varieties. The main benefits to New Zealand are likely to include capital expenditure, increased jobs and increased export receipts. Consent was granted as the Applicant has met the investor test criterion and the investment is likely to benefit New Zealand.
More information	Christina Lefever Lefever Law PO Box 33064 Barrington Christchurch 8244