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Fred Rae

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Fred Rae
Power 500

Fred Rae was a prominent Perth businessman best known for building Gull Petroleum into a major operation. Born in 1931, he trained as a carpenter and became a registered builder, later becoming a preferred contractor to grain handler CBH. Mr Rae bought into the fledgling Gull Petroleum in 1978 for a reported $30,000. Over three decades, Gull expanded to more than 100 petrol station across Western Australia. In 1993, Gull began importing fuel from Singapore, after building its own terminal at Kwinana. This provided a price advantage over its competitors and accelerated its growth. In 1998 Gull expanded into New Zealand. The Australian operation was sold for an estimated $A500 million in 2010 and the New Zealand business was sold for $NZ340 million (about $A300 million) in 2016. Mr Rae was a councillor for the City of Belmont for sixteen years and mayor from 1979 to 1987. He died on 17 January 2019, aged 87.

  • News Articles

    Thursday, 17 March, 2011 - 00:00

    Private players indicate strong preference for a profitable life in the fast lane

    Softer conditions outside mining don’t bother big private companies too much.

    Wednesday, 7 March, 2012 - 10:19

    Champion entrepreneurs turn challenge of change into opportunity for more success

    Five of Perth’s top entrepreneurs sat down with WA Business News to talk about managing change, boosting philanthropy and achieving long-term success.

    Tuesday, 19 March, 2013 - 22:50

    Highly regulated business environment stifles entrepreneurial risk taking

    The leaders of some of WA’s top private businesses say overregulation is stifling the development of an entrepreneurial culture in Australia.

    Monday, 23 March, 2015 - 06:55

    Business champions challenge the status quo

    The energy and education sectors are going through a paradigm shift and businesses must adapt if they want to survive, let alone prosper, some of WA’s most successful entrepreneurs told Business News.

    Tuesday, 3 January, 2017 - 15:37

    Gull NZ, Golden Grove deals cap off 2016

    The last 10 days of 2016 were a busy period for WA corporate deals, with the Rae family attracting a bumper price for its Gull New Zealand business, Chinese group MMG selling the Golden Grove mine, Diploma Group going into receivership and seven new listings on the ASX.

     
    Business champions challenge the status quo
    Monday, 23 March, 2015 - 06:55

    Private players indicate strong preference for a profitable life in the fast lane

    Champion entrepreneurs turn challenge of change into opportunity for more success

    Highly regulated business environment stifles entrepreneurial risk taking

    Business champions challenge the status quo

    Gull NZ, Golden Grove deals cap off 2016

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