Hugh Jackman Relinquishes Share Of R.M. Williams But Remains Ambassador Following Twiggy Forrest Takeover
Hugh Jackman will retain his role as global ambassador for R.M. Williams, despite selling his five per cent share in the company to mining magnate Andrew ‘Twiggy’ Forrest.
It was revealed today Forrest’s private investment company Tattarang had bought the iconic Australian brand for $190 million.
“We’d like to employ more Australians and get more of these fantastic boots out to people who just love to wear a quality boot which you can pass on from mum to daughter and father to son,” he said.
“R.M. Williams – I just want to see that grow. I just want to see this organisation grow and grow with Australian craftsmanship, Australian quality, Australian reputation and back in Australian hands.”
It had been reported the company’s previous owner, US private equity firm L Catterton, was asking between $400 and $500 million for the brand.
The bootmaker was acquired by L Catterton in 2013.
Under the Forrest takeover, minor shareholders – including Jackman – will be bought out. This will see Jackman pocket around $10 million, according to reports in the Herald.
Despite no longer being a shareholder in the company, Jackman will remain an ambassador for R.M. Williams.
Jackman’s payday comes just weeks after a raunchy new campaign he led for the brand, which saw the movie star pose naked in a bathtub while donning the iconic boots.
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