Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


JUCY Group Limited's Australia & New Zealand Rentals Businesses Acquired By Polar Capital

JUCY Group Limited (JGL) today announced it has reached an agreement that sees Polar Capital take a majority stake in the purchase of the assets of JUCY Group’s Car and Campervan Rental businesses in New Zealand and Australia. The interests of David Cushing, a former director of Tourism Holdings Limited, will take a minority stake in the business.

The other businesses JUCY Snooze, JUCY Cruise, JUCY USA, JUCY UK, Your Drive and Lucky Rentals are not included in the new ownership structure.

As a result of border closures across the three countries in which JGL operates, JUCY experienced upwards of 90 percent reduction in business revenue since March 2020.

These events presented JGL with the most significant challenges to its business since starting the JUCY brand more than 20 years ago and forced the Directors to explore all opportunities, including restructuring the business to reduce its operating costs.

The agreement with New Zealand-based investors Polar Capital and David Cushing has resulted in a new entity being formed. Polar Capital’s Colin Neal said ‘’JUCY is an iconic brand and while the impact of Covid has been devastating on JGL we are very excited about the acquisition and are pleased we are able to play a part in securing the future of JUCY Rentals and retaining the jobs of 150 JUCY Crew”

As part of the sale process, Grant Graham and Neale Jackson of financial advisory firm Calibre Partners have been appointed as receivers to four entities within JUCY Group – JUCY Group Limited, JUCY Holdings Limited, JUCY Rentals NZ Limited and JUCY By Design Limited.

Mr. Jackson, Partner of Calibre Partners said “The business will continue to trade under its new ownership and the purchaser has agreed to honour holidays booked or credits held with JUCY Rentals”

The agreement will see the original founders of the business brothers Dan and Tim Alpe exit JGL. To ensure the JUCY brand story continues, albeit in a different guise, Dan Alpe is taking a new role as CEO of the new entity, while brother Tim Alpe has decided the timing is right to pursue other interests.

As the original founders of the business, brothers Dan and Tim Alpe said “Covid 19 has had an unprecedented and devastating impact on our business. We moved quickly to reduce costs and hibernate or close parts of the business, however, it became clear that we needed to bring external capital into the business. We have always believed that the JUCY brand is an integral part of the tourism landscape in New Zealand and Australia, and this new entity provided the best opportunity for the JUCY brand to recover from the impact of Covid-19 and move forward”.

The Receivers ask any customers who have questions about a future booking with JUCY to call JUCY on 0800 399 736 or visit the website

© Scoop Media

Business Headlines | Sci-Tech Headlines


Grey Power: Is Disappointed To Learn Of More Bank Closures

Many older people are being left without essential services because of cost cutting and the march of modern technology. It is now expected that most banking transactions can occur via the internet or telephone. Jan Pentecost, President of the Grey Power ... More>>


Economy: Supply Chain On Brink Of Overload Says National Road Carriers

The New Zealand supply chain is on the brink of overload and it looks like the upcoming peak imports season may push it over the edge says National Road Carriers Association (NRC) CEO David Aitken. “Worldwide supply chains are in disarray,” says Mr Aitken. ... More>>

Retail: Supermarkets Announced As Government’s Second Market Study

The Government has today launched a market study to ensure New Zealanders are paying a fair price for groceries. More>>


Statistics New Zealand: Retail Sales Recover In The September 2020 Quarter

Retail sales values recorded the largest September quarter rise since the series began in 1995, Stats NZ said today. Spending on major household items, vehicles, and groceries contributed to the strong 7.4 percent ($1.8 billion) rise in total ... More>>

Kea Aerospace: New Zealand Flies Into The Stratosphere

Development has started on a solar-powered, unmanned aircraft that can fly in the stratosphere continuously for months at a time. The zero-emission aircraft will carry a suite of imagery equipment that will be game-changing for many industries, vastly ... More>>

Stats NZ: Births And Deaths: Year Ended September 2020

Births and deaths releases provide statistics on the number of births and deaths registered in New Zealand, and selected fertility and mortality rates. Key facts For the year ended September 2020: 57,753 live births and 32,670 deaths ... More>>


Forest & Bird: Kākāpō Wins Bird Of The Year 2020

The nation has voted and Aotearoa New Zealand has a new Bird of the Year. New Zealand’s moss-colored flightless parrot has climbed to the top-spot for the second time in Forest & Bird’s annual Te Manu Rongonui o Te Tau/Bird of the Year competition. ... More>>