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Tycoon interest in iconic Aussie brands as Forrest buys Akubra

Chris McLennan
November 24 2023 - 12:30pm

Voice of Real Australia is a regular newsletter from ACM, which has more than 100 mastheads across Australia. Today's is written by ACM national agriculture writer Chris McLennan.

Lots of folk like to dream what they would buy if they were a millionaire.

That's why Tattslotto hooks so many suckers.

Andrew and Nicola Forrest have taken over Aussie icon Akubra, which has been in the Keir family for five generations.

Some imagine going into their bush outfitters store and buying any Akubra hat they like, perhaps more than more than one to match their new wardrobe.

If you are a billionaire like Twiggy Forrest you can walk into the store and just buy the Akubra company.

There's been thousands of social media posts on the Australian Community Media network this past week congratulating the mining tycoon for keeping an icon in Australian ownership.

The outpouring of support has been quite remarkable.

Practicality in keeping out the elements collides with bush fashion at a Victorian cattle sale.
Practicality in keeping out the elements collides with bush fashion at a Victorian cattle sale.

After 147 years in the hands of the Keir family, the Akubra brand was acquired by Andrew and Nicola Forrest.

Whether it turns out to be another canny business decision or not, it has been a stunning marketing move to boost their personal reputation.

They've already got another famous bush icon R.M. Williams in their safe keeping.

Perhaps that's why he has built up his stake in the dairy company Bega Cheese to now be its biggest individual shareholder, maybe he likes Vegemite on his toast, Bega's most famous product.

Why buy a jar when you can buy the factory.

The financial press is suggesting that other famous Australian mining rich-lister Gina Rinehart is casting her eyes over RB Sellars maker of the Driza-Bone rainwear and Rossi boots.

Today it is owned by the Propel Group but apparently RB Sellars has been on the market for a few years.

Ms Rinehart might have to get a wriggle on before Dr Forrest swoops.

He has the hats, the clothes, the boots perhaps the famous waterproof riding coats will complete the outfit.

Nicola Forrest (centre) with outgoing managing director Stephen Keir IV and his sisters and fellow owners Nikki McLeod (left) and Stacey McIntyre (right). Picture supplied by Tattarang
Nicola Forrest (centre) with outgoing managing director Stephen Keir IV and his sisters and fellow owners Nikki McLeod (left) and Stacey McIntyre (right). Picture supplied by Tattarang

"Very grateful that the Akubra brand will remain in Australia. Thank you Andrew and Nicola Forrest," said one reader of The Land among more than 800 Facebook comments made after his Akubra buy.

"Good luck with the new adventure and keeping a good product in Australia. Thank you. Too many things disappear over seas for good sadly," said another.

The Forrests', who recently announced their separation, have bought Akubra through their private investment company, Tattarang.

Dr Forrest said it was to continue the company's commitment to local manufacturing and "to ensure companies like Akubra remain Australian owned... both protecting and creating new jobs, particularly in our regions."

Nicola Forrest, who grew up on a farm between Mudgee and Dubbo, said she is committed to protecting their legacy.

"Growing up in regional NSW, my parents taught me lifelong lessons about hard work and resilience," she said.

Twiggy Forrest has also been busy buying up shares of dairy company Bega Cheese, maker of Vegemite.
Twiggy Forrest has also been busy buying up shares of dairy company Bega Cheese, maker of Vegemite.

"The image of my father's tireless energy and perseverance, measured by the sweat on his Akubra, remains etched in my memory."

Outgoing chairman of the Akubra board, Stephen Keir IV, said the family chose to sell to Tattarang because they wanted custodians who would protect and invest in the company.

"We thought long and hard about selling the business after five generations of family ownership," he said.

"And after we saw how the Forrests have invested in local manufacturing with R.M.Williams, we decided they were the right custodians for Akubra."

Australia's infamous tall poppy syndrome would have us target these rich listers for the foibles most of us are able to hide, but for now the people have spoken with universal praise..

It is quite refreshing.

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Chris McLennan

Chris McLennan

National Rural Property Writer

ACM national rural property writer based in Bacchus Marsh, Victoria. Career journalist. Multi award winner.