The Commerce Commission has received a clearance application from Astra Energy Group Limited to acquire all of the shares in GNZ Holdco Limited (including its subsidiaries, Gull) and all of the shares in NPD Group Investments Limited (including its subsidiaries, NPD).
NPD and Gull are both independent, low-cost operators supplying fuel predominantly, but not exclusively, via unstaffed sites in New Zealand.
NPD is a retail-only operator supplying fuel from sites predominantly in the South Island (with a smaller number of sites in the North Island).
Gull is a fuel importer and retailer supplying fuel from sites predominantly in the North Island (with a smaller number of sites in the South Island). Gull also owns and operates a bulk import and storage terminal at Mount Maunganui.
The Commerce Commission has published a statement of preliminary issues regarding the application. The statement outlined the key competition issues the Commission considers in deciding whether to grant clearance for the proposed acquisition.
The Commission has invited interested parties to provide comments on the likely competitive effects of the proposed acquisition. Any submissions should be received by the close of business on the 3rd of February 2026.
The Commission is currently scheduled to make a decision on the application by the 16th of March 2026.
However, this date may be extended with the agreement of the applicants if the material before the Commission at that time does not allow it to be satisfied that the proposed acquisition will not have, or would not be likely to have, the effect of substantially lessening competition in a market in New Zealand.
The Statement of Preliminary Issues and a public version of the application can be found on the Commission's website, in the case register.
More from the c-store here
