OneFortyOne intends to purchase Manuka Island forest estate
OneFortyOne announces intention to purchase Manuka
13 September 2018
Australian forestry company, OneFortyOne (OFO) has announced its intention to purchase the Manuka Island forest estate in the Wairau Valley near Blenheim. The proposed purchase is now being reviewed by the Overseas Investment Office.
The Manuka Island estate is approximately 2000 hectares of forest and currently owned by Merrill and Ring. Manuka Island will be integrated and managed as one forest estate by Nelson Management Ltd, the management company for Nelson Forests.
“The Manuka Island acquisition reflects our intention to continue to invest in the regions where we have an established presence. The acquisition complements our recent purchase of Nelson Forests and is a great fit for their estate,” says OFO’s Chief Executive Officer, Linda Sewell.
“Manuka Island will be a natural extension of our existing operation,” says Lees Seymour, Managing Director of Nelson Management Ltd. “We are excited about the employment and regional economic development opportunities that the proposed purchase will provide for Marlborough, in addition to our strong existing presence at Kaituna Sawmill and through our forest activities in the region.”