Australian business magnate Andrew ‘Twiggy’ Forrest and his ex-wife Nicola have secured ownership of the iconic hat brand Akubra in a multimillion-dollar deal. The bombshell takeover, kept under wraps until recently, unfolded after secret negotiations between the Forrest and Akubra-owning Keir families.
The surprising acquisition has left many in the business world and beyond intrigued, with few having any inkling about the impending deal until the official announcement.
According to an exclusive report by The Sunday Telegraph, the lucrative agreement had been years in the making. The families discreetly deliberated, strategized, and finally came together earlier this week to ink the deal that will see the Forrests taking the reins of one of Australia’s most cherished and internationally recognized brands.
Having held ownership of the brand for five generations, the Keirs have received numerous offers throughout the years. However, siblings Nikki, Stacey, and Chairman Stephen Keir IV are now confident that they have selected the ideal individuals to take over the brand.
For more than a century, Akubra has been under the exclusive management of a single family. The lineage traces back to the great-great-grandfather, Benjamin Dunkerly, who, possessing skills in machinery and hat making, migrated from England to Tasmania in 1874.
Recognizing a potential business venture amid Australia’s rabbit predicament, where the animals posed a significant threat to farmers by competing with domestic livestock for food, Dunkerly seized the opportunity.
In 1905, Dunkerly enlisted the services of a talented Englishman skilled in millinery, Stephen Keir I. He later wedded Benjamin’s daughter, Ada, and the couple initiated a line of Keirs in charge of Akubra.
Crafted from rabbit fur, the stylish felt hats gained prominence, becoming an essential element of Australia’s national identity. Akubra hats achieved widespread recognition, gifted to esteemed visitors, worn by Australian Olympians and military personnel, and even gracing the heads of Hollywood stars.
