OneFortyOne (OFO) has received confirmation that the Overseas Investment Office has approved its purchase of Nelson Forests. The completion date for the purchase will be Tuesday the 4th of September 2018.
Nelson Forests, currently owned by investment funds advised by Global Forest Partners LP, is a vertically-integrated plantation and sawmill business in the Nelson Tasman and Marlborough regions of New Zealand.
“We are very pleased that approval has been granted by OIO. The decision is important, providing certainty for the Nelson Forests’ team, customers, the region and the broader NZ forest industry. We look forward to being a strong contributor to the region,” said OFO’s Chief Executive Officer, Linda Sewell.
Nelson Forests is a recognised leader in forest management and has been broadly used as the benchmark for performance in the New Zealand industry. “The acquisition fits nicely with the balance of OFO’s assets in the Green Triangle”, said Ms Sewell.
Linda will be in Nelson to mark completion date on the 4th September 2018 and to welcome the Nelson Forests’ team to the OFO family.
Campbell Global, Gresham Partners and MinterEllisonRuddWatts were advisory partners to OFO on the transaction.