Tattarang, the private investment group owned by Andrew and Nicola Forrest, has acquired iconic Australian hat manufacturer Akubra, which ensures that the legendary hatmaker, known for its handmade hats crafted in Kempsey, New South Wales, remains Australian-owned.
Akubra, with a history spanning 147 years, has been a family-run business for five generations under the Keir family. The company has had a significant presence in Kempsey since 1974, employing about 120 team members in its purpose-built workshop.
Dr Andrew Forrest expressed his gratitude towards the Keir family for entrusting them with this unique Australian legacy, emphasising Tattarang's commitment to preserving Australian ownership of companies like Akubra and bolstering local manufacturing.
Nicola Forrest also shared her personal connection to Akubra, reflecting on her upbringing in regional NSW and her father's association with the brand.
Stephen Keir IV, the outgoing chairman of Akubra's board of directors, acknowledged the family's careful consideration in selling the business. The decision was influenced by the Forrests' previous investments in local manufacturing, notably with RM Williams, assuring them that Akubra was in capable hands.
Akubra's rich heritage is notable, having been established in Hobart in 1876 and joining forces with Stephen Keir I in 1904. The brand has been a part of Australian culture, providing hats for Olympic teams, supplying more than two million hats to the Australian Armed Forces and featuring in classic films.
The manufacturing process of an Akubra hat is a testament to craftsmanship, involving a six-week process with 162 steps, ensuring each hat is meticulously handcrafted.
This acquisition by Tattarang not only secures Akubra's Australian legacy but also reinforces the Forrests' dedication to supporting and expanding Australian manufacturing and regional employment.