Andrew Forrest Bought RM Williams for $190 Million Resulting in $10 Million Payday for Hugh Jackman
Andrew has bought iconic boot brand R.M. Williams from his family investment fund Tattarang. Along with his wife, he said that they are proud and humbled to have complete ownership of the Australian boot making brand. Moreover, Hugh Jackman is a 5% shareholder in the brand and will receive $10 million. RM Williams is an iconic Aussie brand and known for its quality craftsmanship. TPG Capital was also interested in buying the brand, but Andrew secured the deal by paying a hefty amount. Hugh Jackman is perhaps the biggest unexpected beneficiary of the deal. However, he was holding a minority stake but has got a huge amount for it.
RM Williams Ownership History
The company was founded in 1932. In 2013, the Cowley family released a statement that they are willing to sell the company for $100 Million. The potential buyers were Oroton Group and Premier Investments. In the same year, they sold around 49.9% stake to 49.9% stake to L Capital. Before the company’s acquisition by Andrew Forrest, 82% of shares were owned by L Catterton, while 13% by IFM Investors and Hugh Jackman owns 5%. However, Andrew and his wife are sole owners of the RM Williams.
Andrew Forrest Bought RM Williams for $190 Million Resulting in $10 Million Payday for Hugh Jackman
Hugh Jackman will remain the brand ambassador of the brand RM Williams. However, Andrew has bought the brand for $190 Million, and for that reason, Hugh Jackman has received a $10 Million Payday for Hugh Jackman. Andrew has taken over the company’s charge, and there will only be minor changes in the overall appearance of the brand. Currently, the company employs around 900 people, and most of them are from the local background. Nicole Forrest said that the brand is once again in the hands of locals, and now they will continue to uplift the local heritage and continue Australian craftsmanship. The luckiest one in the entire deal is Hugh Jackman, who has received a hefty amount of money from a single deal. It’s quite amazing that Andrew Forrest Bought RM Williams for $190 Million Resulting in $10 Million Payday for Hugh Jackman.
