Frederick William Rae (27 October 1931 – 17 January 2019), more commonly known as Fred Rae, was a Western Australian businessman who brought into Gull Petroleum in 1978 for $30,000.[1]
Early life edit
Rae was born in Mundijong, Western Australia on 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 at Leederville Technical College, and apprenticed as a carpenter. He worked with his brothers until he obtained his builder's licence. Rae worked as a contractor for CBH, and gained a good reputation, eventually becoming CBH's preferred contractor.[1]
Family edit
Rae married Norma Catherin Dowding on 29 November 1962,[2] and they had a daughter Jill and son Nicholas.[1]
Business edit
Rae brought into Gull Petroleum in 1978 for $30,000. It was during the early expansion of Gull Petroleum when 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 local Kwinana 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-leader BP.[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 edit
Rae was a councillor for the City of Belmont for sixteen years,[1] and mayor from 1979 to 1987.[6]
Death and legacy edit
Rae died on 17 January 2019, aged 87, in his family home.[7]
Rae was recognised as one of the most influential Western Australian businesspeople in The West Australian's 2013 list of the 100 most influential.[8]
References edit
- ^ a b c d e Mough, David (18 March 2019). Moran, Rod (ed.). "Family fuels firm's rise". Obituaries. The West Australia. p. 34. Retrieved 29 December 2020 – via PressReader.com. (Page 34 Archived 29 December 2020 at archive.today)
- ^ "Mundijong". South Western Advertiser. Western Australia. 4 December 1952. p. 3. Retrieved 30 December 2020 – via Trove.
- ^ Chung, Minsi (8 December 2010). "Decades-long work pays off for 'Gull' family". ABC News. Australian Broadcasting Corporation. Retrieved 29 December 2020.
- ^ a b Williams, Peter (7 December 2017). "How family values fuelled homegrown Gull empire". The West Australian. Retrieved 29 December 2020.
- ^ a b Robins, Brian (22 December 2016). "Never heard of the Rae family? They just made over $300m". The Sydney Morning Herald. Retrieved 29 December 2020.
- ^ "Gull Petroleum founder Fred Rae dead, aged 87". ACAPMAg. Australian Finincial Review. 23 January 2019. Retrieved 29 December 2020.
- ^ 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. Archived from the original on 29 December 2020. Retrieved 29 December 2020."Interview audio". Archived from the original on 29 December 2020. Retrieved 29 November 2022.
{{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. Retrieved 29 December 2020.
Further reading edit
- "Rae of hope makes his pipedream real". Australasian Business Intelligence. COMTEX News Network, Inc: 1008209i3106. 29 July 2002. ISSN 1320-6680 – via Trove.