Iconic South Australian brand R.M. Williams is back in the ownership of an Aussie following years’ of majority foreign ownership.
Billionaire mining magnate Andrew “Twiggy” Forrest has bought the company, from a private equity firm for a rumoured $190 million.
The 88-year-old company last changed hands in 2014, with a equity fund in charge of several other luxury brands taking an 82 per cent stake.
R.M. Williams dates back to 1932, and has 900 Australian employees across the country, including 400 at its Salisbury workshop.
In good news for South Australia, it is rumoured that Forrest is considering moving the company’s base from Sydney to Adelaide.
Forrest is said to be a big fan of the famous boot, told The Advertiser that his family is moved by the idea of returning the company to Australian hands.
Dr Forrest said that his family “has a big, solid lump in its throat about returning R.M. Williams back to Australia.”