Mexican-Led Finaccess Moves To Full Control Of Restaurant Brands NZ
Finaccess Restauración, SL (Mexico 42%, Spain 32%, Argentina 9%, Switzerland 8%, Uruguay 6%, United Kingdom 3%) has been granted consent under the significant business assets pathway of the Overseas Investment Act 2005 to acquire up to 100% of the shares in Restaurant Brands New Zealand Limited, for a consideration of up to $157.38 million. The vendors are the remaining non-Finaccess shareholders of Restaurant Brands New Zealand Limited, representing the 24.98% of shares not already owned by Finaccess. These shareholders are predominantly New Zealand-based, with Australian and other international investors holding the balance. Finaccess is part of the Finaccess group ultimately owned by Mexican businessman Carlos Fernández González.
The transaction will be completed via a full takeover offer under New Zealand’s Takeovers Code, consolidating full offshore control of Restaurant Brands. Restaurant Brands is a dual-listed NZX and ASX company and a major corporate franchisee operating well-known fast-food brands across New Zealand, Australia, and the United States. While framed as a corporate consolidation, the approval completes the shift of ownership of one of New Zealand’s most recognisable fast-food operators into foreign hands. The decision underscores the continued role of offshore capital in shaping New Zealand’s consumer and retail sectors, particularly in businesses with significant employment footprints and national brand presence.
See also: 2018 – “Mexican Investor Finaccess Completes Takeover Of Restaurant Brands New Zealand” (reported by RNZ).
Foreign Institutional Forestry Fund Expands Otago Holdings
Takahe Estate Limited (Germany 64%, Australia 21%, Sweden 10%, Various 5%) has been granted consent under the special forestry test of the Overseas Investment Act 2005 to acquire approximately 444 hectares of freehold land at Tuapeka West Road, Clutha, Otago. The consideration has been withheld under the Official Information Act. The vendor, Cockleshell Road Forest Limited, is fully New Zealand-owned. The Applicant is managed by New Forests Asset Management Pty Limited and represents a portfolio of 14 overseas institutional investors focused on plantation forestry.
New Forests–managed entities already hold multiple forestry investments across New Zealand. The land comprises around 380 hectares of productive plantation forestry, almost entirely pinus radiata, with harvesting planned for 2051. The Applicant intends to continue the land’s use for long-rotation production forestry.The Overseas Investment Office approved the acquisition on the basis that the investor test and the special forestry test criteria were met. A national interest assessment was not required, as the Applicant falls within an exemption under the Act.
The decision reflects the OIO’s continued facilitation of large-scale foreign institutional ownership in New Zealand’s commercial forestry sector. While framed as a long-term, low-impact forestry investment, approvals of this kind further entrench overseas institutional control over extensive rural landholdings. With harvesting timelines extending decades into the future, such transactions effectively lock up large tracts of productive land under offshore ownership, limiting future flexibility over land use, regional development, and domestic control of forestry assets that play an increasingly strategic role in New Zealand’s export economy.
See also: RNZ – “Foreign Investors Dominate Large-Scale Forestry Ownership In New Zealand”
Hong Kong–Owned Trust Expands Auckland Build-To-Rent Holdings
KW Holdings Limited (Hong Kong 100%) has been granted consent under the residential land development (large rental development) pathway of the Overseas Investment Act 2005 to acquire stratum freehold interests in up to 82 residential dwellings at the Parkside West development, 170–174 Te Atatu Road, Te Atatu South, Auckland. The consideration has been withheld under the Official Information Act. The vendor is Te Atatu Revival Limited. The Applicant is beneficially owned by Unity Trust Limited as trustee of the One Wan Trust, a Hong Kong trust. The acquisition covers at least 20 and up to 82 completed dwellings on approximately 0.7 hectares of residential land.
All dwellings acquired will be retained as long-term rental accommodation, placing the investment firmly within Auckland’s growing build-to-rent sector. The Overseas Investment Office approved the transaction on the basis that the investor test criterion was met and that the proposal satisfies the large rental development test, reflecting continued policy support for overseas-funded rental housing developments where properties are held rather than on-sold.
While framed as supporting rental supply, the approval also illustrates the increasing role of offshore trusts in owning and controlling large residential rental developments in Auckland. As build-to-rent expands, foreign ownership is becoming a structural feature of the city’s rental market, raising longer-term questions about control, affordability, and the flow of rental income offshore.
See also: RNZ – “Build-To-Rent Developments Grow As Overseas Investors Target Auckland Housing”.
US-Based Ecolab Expands Stake In AI-Driven NZ Quick-Service Tech Firm
Ecolab Inc (USA 66%, UK 8%, Various 26%) has been granted consent under the significant business assets pathway of the Overseas Investment Act 2005 to acquire additional securities in Fingermark Holdings Limited. The vendor is majority New Zealand-owned (84%) with a minority held by US stakeholders. Ecolab, a global sustainability business listed on the New York Stock Exchange, provides water, hygiene, and infection prevention solutions primarily to commercial and industrial customers.
The company is increasing its existing interest in Fingermark Holdings from 13.89% to 36.40%. Fingermark is a New Zealand technology company specialising in AI, computer vision, and digital display solutions for the quick-service restaurant sector. This transaction highlights the continuing presence of foreign capital in New Zealand’s emerging AI and digital technology sectors, illustrating how offshore investment can support the scaling of innovative domestic companies while raising questions about long-term ownership in strategically valuable tech assets.
See also: RNZ, “Law Change Opens The Door To Overseas Investment In NZ Build To Rent”, 2023. Property Council New Zealand, “Property Council Applauds Legislative Changes To Boost Build To Rent Housing”, 2024. “Foreign Footprints In New Zealand’s Housing Boom”, March 2024.
Singapore-Linked Consortium Takes Control Of Australian Venue Co In NZ
Barrel BidCo Pty Limited (comprised of entities which are 99.96% overseas owned) – a special purpose vehicle managed and advised by Hospitality 2025 Pte Ltd and PAGAC IV 1 (Singapore) Pte. Ltd. alongside certain management personnel of the Australian Venue Co Group has been granted consent under the significant business assets pathway of the Overseas Investment Act 2005 to acquire up to 100% of the shares in Aardvark TopCo Pty Limited.
The consideration has been withheld under the Official Information Act. The vendor is the shareholders of Aardvark TopCo Pty Limited (Middle East and Asia 36% North America 29% Australasia 16% Various 19%) By acquiring Aardvark TopCo, the Applicant will gain an indirect interest in the Australian Venue Co Group, a hospitality group operating more than 240 pubs, bars, restaurants and event venues across Australia and New Zealand, including through its New Zealand subsidiaries NZ Venue Co Holdings Limited and NZ Venue Co Limited.
Because the acquisition results in a non New Zealand government investor holding significant business assets, it was subject to a national interest assessment. The Minister of Finance decided the investment is not contrary to New Zealand’s national interest and consent was granted as the Applicant met the investor test criterion. This decision highlights how global private equity and institutional groups continue to consolidate ownership of hospitality and consumer service businesses with integrated operations in New Zealand and Australia. The involvement of Singapore based investment vehicles and the acquisition of a major corporate hospitality group reflect broader trends in cross border private equity participation in Australasian lifestyle and services sectors.
See also: Business News Australia, “CVC And PAG Forge Equal Partnership To Drive Growth At Australian Venue Co”, 2025.
US And Australian-Backed Investor Secures Major Otago Dairy Farms
NZ Dairy Holdings Trusco Pty Ltd, acting as trustee for the NZ Dairy Holdings Trust and ultimately majority-owned by pension funds administered by the Washington State Investment Board, has been granted consent under the Sensitive Land – Farm Land Benefit Test of the Overseas Investment Act 2005 to acquire a freehold interest in approximately 845 hectares of land across three adjoining dairy farms in Clydevale, Otago. The vendors are Argyll Dairy Farm Limited and McCallbraes Dairy Limited (NZ 75%, Europe 17%, Germany 6% various 2%). The consideration has been withheld under the Official Information Act.
The acquisition includes land at 134 Clutha River Road, 246 and 480 Clutha River Road, and 171 Hall Road. The Applicant intends to upgrade the farms with five irrigation pivots covering nearly 300 hectares, extend effluent reticulation from three milking sheds, and invest in other farm infrastructure. The farms will continue to be operated by a New Zealand associate under lease. The capital investment is expected to increase milk production, export receipts, and employment in the region.
The OIO approved the transaction on the basis that the Applicant met the investor test criterion and the investment was likely to deliver substantial benefits to New Zealand. The Minister of Finance also determined that the acquisition is not contrary to New Zealand’s national interest. This decision reflects the ongoing trend of foreign institutional investment in New Zealand’s high-value agricultural assets, where overseas capital enables farm modernisation while operational control remains with local operators.
See also: Otago Daily Times, “Foreign Investors Buy Into Otago Dairy Farms To Boost Production”, 2025. Farmers Weekly, “Overseas Players See Value Where NZ Investors Don’t”, 15/8/25.
Back to Top
Japanese-Owned Tasman Pine Forests Expands Brightwater Holdings
Tasman Pine Forests Limited (Japan 76%, Various 24%) has been granted consent under the sensitive land – special forestry test (one-off) of the Overseas Investment Act 2005 to acquire a freehold interest in approximately 294 hectares at Eves Valley Road, Brightwater, Tasman District, for $2.9 million. The vendor is Carter Holt Harvey Property Limited (NZ 100%). The land comprises approximately 235 hectares of productive Pinus radiata, with the remainder in native vegetation or unplantable areas.
Tasman Pine Forests, ultimately owned by Sumitomo Forestry Co Ltd, a diversified Japanese global company, plans to maintain the land for production forestry, with harvesting scheduled to commence in 2039. This acquisition is part of a continuing trend of foreign institutional investment into New Zealand plantation forestry, particularly by Japanese investors. While these transactions are framed as ensuring productive forest management and economic benefit, they also reinforce offshore control over large-scale timber assets a pattern previously highlighted.
See also: RNZ, “Green rush: Foreign Forestry Companies NZ’s Biggest Landowners”, 2019.
Japanese-Owned Tasman Pine Forests Expands Brightwater Holdings
Tasman Pine Forests Limited (Japan 76%, Various 24%) has been granted consent under the sensitive land – special forestry test (one-off) of the Overseas Investment Act 2005 to acquire a freehold interest in approximately 294 hectares at Eves Valley Road, Brightwater, Tasman District, for $2.9 million. The vendor is Carter Holt Harvey Property Limited (NZ 100%). The land comprises approximately 235 hectares of productive Pinus radiata, with the remainder in native vegetation or unplantable areas.
Tasman Pine Forests, ultimately owned by Sumitomo Forestry Co Ltd, a diversified Japanese global company, plans to maintain the land for production forestry, with harvesting scheduled to commence in 2039. This acquisition is part of a continuing trend of foreign institutional investment into New Zealand plantation forestry, particularly by Japanese investors. While these transactions are framed as ensuring productive forest management and economic benefit, they also reinforce offshore control over large-scale timber assets a pattern previously highlighted.
See also: RNZ, “Green rush: Foreign Forestry Companies NZ’s Biggest Landowners”, 2019.
US Healthcare Giant Abbott Acquires Synlait’s North Island Assets
Abbott Nutrition NZ Limited (United States 81%, United Kingdom 6%, Various 13%) has been granted consent under the significant business assets pathway of the Overseas Investment Act 2005 to acquire substantially all of Synlait Milk Limited’s North Island assets for approximately NZ$307 million. The assets include the Pōkeno manufacturing site, plus leasehold interests in Auckland blending, canning and warehouse facilities.
Abbott is ultimately owned by Abbott Laboratories, a global healthcare company headquartered in the United States. Synlait Milk Limited (China 65%, New Zealand 27%, Various 8%) a significant NZ dairy processor listed on the NZX, and majority owned by China’s Bright Dairy Holding Limited, entered into a binding agreement with Abbott earlier in 2025 to sell these assets, which are meaningful production and packaging facilities in the North Island.
The proceeds of the sale are intended to significantly strengthen Synlait’s financial position and reduce debt. The transaction remains conditional on customary shareholder and regulatory approvals, with targeted completion in April 2026. This sale underscores a broader trend of foreign transnational control over key New Zealand food processing assets, where market pressures and capital constraints drive local firms to divest strategic infrastructure to international buyers.
While Abbott’s acquisition preserves jobs and maintains operational continuity, it also reinforces offshore ownership of vital processing capacity in a sector central to New Zealand’s export economy. As global healthcare and nutrition firms expand here, discussions continue about how to balance economic participation with maintaining strong local control and long term value capture within the dairy processing industry.
See also: Otago Daily Times, “US Firm To Buy Assets”, 8/10/25. Farmers Weekly, “Synlait Shareholders Approve North Island Asset Sale To Abbott”, 24/11/25.
Malaysian Energy Investor Wins Consent To Build Wind Farm Network In NZ
Yinson Renewables Pte Ltd (Malaysia 86%, Various 14%) has been granted consent under the to establish a wind farm business in New Zealand, involving the development, construction and operation of multiple wind turbine projects with a combined potential capacity of around 900 MW. The enterprise, ultimately owned by Malaysian infrastructure company Yinson Holdings Berhad, is expected to invest well over $100 million to build and operate wind energy assets across the country, contributing to renewable electricity generation capacity. Yinson Renewables’ OIO approval was highlighted as part of broader high level investment announcements between New Zealand and Malaysia, with noting the significance of wind energy projects in supporting New Zealand’s renewable energy goals.
These investments form part of a new pipeline of wind developments that aim to help decarbonise the electricity system and support long term growth in clean energy infrastructure. This consent reflects a growing pattern of foreign renewable energy investment in Aotearoa, where international developers play a major role in building out critical wind and clean power capacity. While such investments contribute to decarbonisation targets and infrastructure growth, there are ongoing debates about how much local participation and control is preserved in these strategic sectors — particularly as global energy firms expand their footprint across New Zealand’s power generation landscape.
See also: Newstalk ZB, “Malaysian Company To Invest In NZ’s Power Infrastructure”, 30/10/25. The Edge Malaysia, “Yinson Renewables Gets Nod From NZ For Renewable Energy Projects”, 28/10/25.
Craigmore Sustainables’ Totara Forestry Makes Second Standing Consent Acquisition in Tararua
Totara Forestry Services Limited (Germany 74%, Finland 19%, Various 7%) has completed the acquisition of a freehold interest in 131.36 hectares of forestry land at 15486 Route 52, Alfredton, Tararua District, for $2.479 million. The vendor, East Range Limited (NZ 100%), is fully New Zealand-owned. The consent holder is part of the Craigmore Sustainables Group, which specialises in forestry investments in New Zealand. The land will continue to be used for commercial forestry, with harvesting planned for around 2049. This is the second purchase under a standing consent granted on 13 October 2023, which allows Totara Forestry Services to acquire up to 10,000 hectares across 20 transactions by 2027.
Consent was granted as the applicant met the investor test criterion and the special forestry test, ensuring that the transaction delivers economic benefits through sustainable plantation forestry management. Craigmore Sustainables’ acquisition highlights the steady growth of foreign-managed forestry investment in New Zealand, where overseas institutional capital continues to expand holdings under standing consent arrangements. While these transactions support long-term forestry productivity, they also underscore concerns over foreign control of productive land, long-term planning horizons, and the influence of offshore capital on the domestic forestry sector.
See also: RNZ & B2B News, “Overseas Investors Continue To Expand Forestry Holdings In New Zealand During 2023”. Farmers Weekly, “Foreign-Managed Forestry And The Standing Consent Trend” April 2023.