Frederick William Rae(27 October 1931 – 17 January 2019), more commonly known asFred Rae,was aWestern Australianbusinessman who brought intoGull Petroleumin 1978 for $30,000.[1]
Early life
editRae was born inMundijong, Western Australiaon 27 October 1931 to parents Robert and Edith, both of whom were nurses. He had three older siblings, Jim, Grace, and John. His father was killed by a drunk driver when Fred was 14 years old.[1]
Upon leaving school, Rae studied atLeederville Technical College,and apprenticed as a carpenter. He worked with his brothers until he obtained his builder's licence. Rae worked as a contractor forCBH,and gained a good reputation, eventually becoming CBH's preferred contractor.[1]
Family
editRae married Norma Catherin Dowding on 29 November 1962,[2]and they had a daughter Jill and son Nicholas.[1]
Business
editRae brought intoGull Petroleumin 1978 for $30,000. It was during the early expansion ofGull Petroleumwhen two of the founds Keith Mitchell & Mark Quackenbush were looking to take over Gingers Roadhouse that they met the real state agent Fred Rea. Fred was so impressed with Gul's expansion & their future plans that he asked to buy into the company. Over three decades, Gull continued to expand to more than 100 petrol station across Western Australia.[3]
Following value and supply disputes with the localKwinana Oil Refinery,Rae began importing fuel from Singapore in 1993. This was the first time an independent fuel retailer in Australia imported fuel, and the price advantage enabled Gull stations to compete with market-leaderBP.[4]
In 1998 Gull expanded into New Zealand.[4]
In 2010, the Australian operation was sold for approximately $500 million,[5]and in 2016 the New Zealand business was sold for more than $300 million.[5]
Politics
editRae was a councillor for theCity of Belmontfor sixteen years,[1]and mayor from 1979 to 1987.[6]
Death and legacy
editRae died on 17 January 2019, aged 87, in his family home.[7]
Rae was recognised as one of the most influential Western Australian businesspeople inThe West Australian's2013 list of the 100 most influential.[8]
References
edit- ^abcdeMough, David (18 March 2019). Moran, Rod (ed.)."Family fuels firm's rise".Obituaries.The West Australia.p. 34.Retrieved29 December2020– via PressReader.(Page 34Archived29 December 2020 atarchive.today)
- ^"Mundijong".South Western Advertiser.Western Australia. 4 December 1952. p. 3.Retrieved30 December2020– viaTrove.
- ^Chung, Minsi (8 December 2010)."Decades-long work pays off for 'Gull' family".ABC News.Australian Broadcasting Corporation.Retrieved29 December2020.
- ^abWilliams, Peter (7 December 2017)."How family values fuelled homegrown Gull empire".The West Australian.Retrieved29 December2020.
- ^abRobins, Brian (22 December 2016)."Never heard of the Rae family? They just made over $300m".The Sydney Morning Herald.Retrieved29 December2020.
- ^"Gull Petroleum founder Fred Rae dead, aged 87".ACAPMAg.Australian Finincial Review. 23 January 2019.Retrieved29 December2020.
- ^Williamson, Mike (21 January 2019)."Man who challenged BP and founded Gull has died".^PR Breakfast(Interview). Interviewed by Mark Gibson. Perth, Western Australia:6PR.Archivedfrom the original on 29 December 2020.Retrieved29 December2020."Interview audio".Archived from the original on 29 December 2020.Retrieved29 November2022.
{{cite web}}:CS1 maint: bot: original URL status unknown (link) - ^Harvey, Ben; Hatch, Daniel (29 November 2013).100 most influential: The business leaders who shaped WA – 1829-2013(PDF).The West Australian. p. 51.Archived(PDF)from the original on 27 January 2020.Retrieved29 December2020.
Further reading
edit- "Rae of hope makes his pipedream real".Australasian Business Intelligence.COMTEX News Network, Inc: 1008209i3106. 29 July 2002.ISSN1320-6680– viaTrove.