History
The Kangaroo Petroleum Company Pty Ltd was registered for business in May 1959 & commenced operating the following October of that year after a group of Melbourne businessmen invested their own capital of 1 million pounds, the equivalent of 18 million dollars today to start the new enterprise.
The founders were: Sir Kenneth Luke CMG, Mr J.C. Farrin Webb, Mr G.A. Hammond, Mr J.R. Bishop, Mr Bernard Cowen & Mr Basil Cocks ( founder of the Daylube Oil Company )
They branded the company as "The Small Australian, All - Australian Company" and with a long term contract with the Shell Company of Australia to supply them with fuel & associated products marketing would begin immediately to promote their new business venture.
They setup office at 390 St. Kilda Rd Melbourne and then in September 1960 moved to 14-18 Brunswick St Fitzroy after forming another company " KPC Pty Ltd" to acquire the shares of the original company.
The company expanded quickly throughout the state of Victoria taking on many federal, state and local government contracts and by June 1962 had 47 service stations, 34 of which were in operation in metropolitan Melbourne. The service stations were in strategic locations away from their competitors as they were eager to win over the discerning motorist. A limited number of depots/agents were established in various towns in southern NSW and although the company was later registered in WA, the ultimate vision was to be operating in all states of Australia.
In Jan 1962 the company was listed on the stock market under the name of "Kangaroo Petroleum Holdings Ltd " this followed reorganisation to cope with expanding business interests and as a first step towards achieving public status.
In July 1962 Total Oil Products ( Aust ) Ltd made an offer to purchase Kangaroo however, the negotiations stalled when Total Oil was denied access to view the supply agreement Kangaroo had with the Shell Company of Australia.
The company was eventually acquired by H.C. Sleigh Ltd ( Golden Fleece ) in August 1962.
References
The Age Newspaper
The Sun Newspaper
The Sydney Morning Herald Newspaper
With thanks to:
Simon Barnfield at "Old Service Station Photographs - Australia" Facebook Site
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