West Australian fuel retailer may eye acquisitions on east coast

Western Australia’s largest independent fuel wholesaler and retailer Gull Petroleum says its will consider east coast and potentially overseas acquisitions under its growth plans. The 35 year-old private family-owned company announced its acquisition plans this week, saying it was cashed-up and had already identified several acquisition opportunities. Chief executive Wayne Ferrell told AAP that Gull, which has a network of 132 retail sites across WA and New Zealand, would “certainly look at other geographies”. Caltex is set to tighten its grip further with the proposed A$300 million (US$242.76 million) acquisition of 302 of Mobil’s 800 petrol stations, provided there are no objections from the Australian Competition and Consumer Commission. Mr Ferrell said it was a tough business but Gull had the advantage of having built Australia’s first independent fuel terminal in Australia in 1993, giving it an integrated supply chain, allowing it to pick and choose from a variety of oil suppliers. For the few small service station operators that remain, it is now a case of eat or be eaten, Mr Ferrell said. (July 2, 2009)