Global investment firm KKR has plans to acquire a New Zealand bus and coach company with an 86-year heritage, Ritchies Transport. The terms of the deal were not disclosed, but sources familiar with the circumstances say the deal values Ritchies at over $347 million ($500 million NZD).
On Thursday, the two companies signed the definitive agreements under which KKR will acquire Ritchies, marking KKR’s first infrastructure investment in New Zealand. KKR said acquiring the bus company, which currently has a fleet of more than 1,600 vehicles and 42 depots that operate across the country, will help it advance its mission “to better connect local communities, support the country’s