One of Australiaโs richest (separated) couples โ Nicola and Andrew โTwiggyโ Forrest โ arenโt afraid to put their $33.29 billion net worth to work, with the acquisition of legendary Aussie hatmaker Akubra.
Purchased through their investment firm Tattarang, the Forrests will assume ownership from the Keir family, the latter of whom have been Akubraโs faithful custodians for almost 150 years (five generations).
Of course, this isnโt the mining familyโs first foray into the world of fashion. As some of you may recall, the Forrests bought another legendary brand โ R.M.Williams โ from an LVMH Group-affiliated private equity firm back in 2021.
More recently, it was revealed Twiggy Forrest was broadening his sector interests with the purchase of Australiaโs very first Waldorf Astoria Hotel for the tidy sum of $520 million.
โWe are humbled to be entrusted with a company which is so important to Australiaโs national identity,โ Andrew Forrest said in a statement.
โTattarang invests to ensure companies like Akubra remain Australian owned and weโre proud to be able to ensure the growth of Australian manufacturing, both protecting and creating new jobs, particularly in our regions.โ
Nicola Forrest added: โThe image of my fatherโs tireless energy and perseverance, measured by the sweat on his Akubra, remains etched in my memory.โ
โAn Akubra has always been part of my life and as a new custodian, I am excited to help new generations discover this treasured Australian icon.โ
It hasnโt been revealed what the Forrests paid for Akubra, but you can imagine it wasnโt a small sum.
