US firm in driver's seat at Ritchies Transport

US firm in driver's seat at Ritchies Transport
Bus pass: Ritchies sells to KKR. (Image: Ritchies.co.nz)
Brent Melville
Tour and school bus operator Ritchies Transport will be sold to US alternative asset firm Kohlberg Kravis Roberts (KKR).The family-owned business was founded in Temuka in 1935 and now has a fleet of more than 1,600 vehicles and a network of 42 depots across the country. It's estimated to have about a quarter share of the NZ bus market and it's also a significant shareholder in the Intercity bus network via its holding in the Entrada Group.The investment is the first New Zealand infrastructure venture for the New York firm, which ha...

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