New Zealand: Caltex brand to continue operating for another five years
Z Energy and Chevron International have renewed their agreement signed back in 2016 when Z acquired the local subsidiary of the oil company.
Z Energy and Chevron International have renewed their Trading Licensing Agreement of the Caltex brand in New Zealand for another five years. This means that Z is able to continue to have dual brands in the local market and Caltex-branded retailers can continue building their businesses on the brand.
"Our Caltex retailers run 134 Caltex service stations and 70 Caltex branded truck stops around New Zealand. As small New Zealand business owners, our retailers manage a diverse and highly motivated team who are dedicated to delivering exceptional customer service, day in and day out for Kiwi consumers," said Andy Baird, General Manager of Retail for Z Energy.
In June 2016, Z acquired the assets of Chevron New Zealand, subsidiary of Chevron Corporation, under a five-year Trading Licensing Agreement. The original deal saw Z as the wholesale fuel supplier to the network of Caltex-branded service stations.
"We began working with Z in 2015 and our agreement represents the next chapter in our partnership to continue building the Caltex brand in New Zealand. Over the years, the Caltex brand and our premium fuels with Techron, have established a strong following in the New Zealand market. Chevron is committed to collaborating with Z in growing the Caltex brand and business,” added Yu Lee Toh, Director of Asia Pacific Sales for Chevron.
This Trading Licensing Agreement contemplates any potential acquisition of Z by Ampol, which will not impact the relationship between Z and Chevron. The Caltex-branded retail network will remain independently owned and operated, with the operators setting their own retail fuel prices.
