"They're good hard-working people, as good as anybody."
He was optimistic about the country's prospects, saying it had "turned the corner" and had a good government that was building a lot of infrastructure.
These days Mr Jepson spends most of his time in Russell while his three Far North-based sons - Ian in Russell, David in Kerikeri and James at Puketona - run the company. He keeps a low profile, donates to local causes and enjoys the odd pint at the Duke of Marlborough on the Russell waterfront.
He will have to collect his award from Buckingham Palace.
The CBE is the third highest honour in the Most Excellent Order of the British Empire, above the Officer (OBE) and the Member (MBE), but below the Knight Grand Cross and Knight Commander. The order was established in 1917 by King George V to recognise contributions to the arts and sciences, charity, and public service outside the Civil Service.
Appointments to the Order are made by the British government and Commonwealth countries that don't have their own honours system. Other notable CBE holders include rugby player Jonny Wilkinson, naturalist David Attenborough, musicians Eric Clapton and Elton John, and comedian Billy Connolly.