Gull Australia Sale To Boost NZ Growth

Gull Australia Sale To Boost NZ Growth

Gull looks forward to exciting opportunities to expand its NZ footprint

AUCKLAND, 3 December 2010 – Gull today confirmed the sale of its Australian assets to fuel company Ausfuel, and says that it will bring greater focus on developing its New Zealand business.

Founded in 1976 by the Rae family, Gull quickly developed into a significant independent fuel wholesaler and retailer in Western Australia and New Zealand. In New Zealand, Gull has 41 branded sites and these remain under Rae ownership as the country’s only leading family independent fuel retailer.

Gull New Zealand Chairman Neil Rae says that the sale of Gull’s Australian assets will allow the company to set its sights on achieving new milestones in New Zealand.

“Gull prides itself on being a New Zealand industry leader that keeps the fuel market competitive and gives motorists a real choice and a quality alternative to the oligopoly fuel suppliers,” says Rae.

“We’re very excited by the future for Gull in New Zealand both as a retailer and the opportunities there are with our state of the art terminal in Mount Maunganui. We look forward to continuing to shake up the New Zealand fuel industry and preventing the long standing oligopoly that major oil companies represent in New Zealand. It's time to break up the 'cosy club' of the oil giants. Gull is here to work to that end. "

Gull General Manager Dave Bodger is also confident that there are significant opportunities for Gull as a leading independent New Zealand oil company to grow its business.

“Gull will continue to be a leader in biofuels but in other ways too – such as customer service and bring innovation to Kiwi motorists. As the oil giants look to exit, we intend to stay in New Zealand bringing the Gull benefits to new areas for more Kiwi motorists to enjoy. The Aussie sale has turbo charged our expansion plans” Bodger says.

ENDS

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