Fuel retailers Gull and NPD have officially completed their merger, marking the launch of the new nationwide fuel company NPDGull.
The new entity would oversee both the NPD and Gull brands, with all existing service stations set to continue operating under their current names.
Announced in December last year, the merger would allow the two fuel retailers to combine operations into a nationwide network of around 240 sites, in a move it said would help drive down pump prices for Kiwis.
NPDGull introduced a national commercial fuel offering as a part of today's announcement, allowing the NPD fuel card to be used at most of its retail sites across the country.
Group chief executive Barry Sheridan said the company would also invest in expanding its North Island operations, including growing its fuel delivery fleet, increasing fuel storage capacity and hiring additional staff.
"From ‘Port to the Pump’, across the North Island, we’ll control every step, improving the resilience of supply to our sites, and to customers in industrial and remote areas," Sheridan said.
He said the company would continue to focus on its low-cost, self-service model while using its larger scale to offer competitive fuel prices.
“We’ll be leveraging our buying power and keeping our costs low, so we can continue to deliver the competitive pricing we are renowned for," he said.
The merger was approved by the Commerce Commission earlier this year following an investigation into its potential impact on competition in the retail and fuel wholesale markets.
The investigation examined whether the merger would make coordination between other fuel companies more likely, potentially leading to higher fuel prices.
At the time, Commerce Commission chair John Small said the watchdog was satisfied the deal was unlikely to substantially lessen competition, finding the combined company would continue to face strong competition from major fuel retailers and other independent operators.
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