New Zealand fuel distributor NPD has successfully transferred its ownership from founding family members Barry Milne and Pauline Field to CEO and shareholder Barry Sheridan.
The transition of ownership to the Nelson-based management team ensures that NPD continues to be New Zealand-owned and operated, while maintaining continuity and stability as Sheridan has been part of the management team for many years.
Facilitated by PwC, the ownership transfer was said to be a smooth transition, preserving NPD’s identity, culture, and family values that the company was built on.
Craig Armitage, Partner at PwC, said they are delighted to have been part of this significant milestone for NPD.
“This is a meaningful milestone for the Milne, Field and Sheridan families and we are thrilled to have supported them through a complex transition process. Importantly, the transaction will see NPD continue to be family-owned and operate with the values it was built on.”
Founded by the Milne Family in 1969, NPD has grown to become a leading fuel distributor and retailer throughout New Zealand, operating a nationwide network of over 100 sites, and with this ownership transfer, NPD is well-positioned to continue its growth trajectory.
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