"It always rankled a bit that this great Australian,Reginald Murray Williams,kicked off this fantastic organisation,employed so many people,and then it had to go to overseas hands,"he said.
"I'm so glad it's now back,and I'd have to say the[Forrest] family has a big solid lump in its throat about returning RM Williams back to Australia."
RM Williams had been up for sale since May last year after its parent company,Louis Vuitton-partnered private equity firm L Catterton,began seeking buyers for the business at a $400 million to $500 million asking price.
Various parties from around the world had expressed interest in the brand,but Dr Forrest's Tattarang emerged as the winning bidder after TPG Capital pulled out earlier this month.
It's understood Tattarang paid about $190 million for RM Williams,far below L Catterton's original asking price but still above the $110 million it paid for the business in 2014. RM Williams reported profits of $23 million in 2019,and the acquisition values the company at about 9x earnings.
Tattarang has bought 100 per cent of the business,buying out minority shareholders such as Jackman,who owned about 5 per cent of the business and will receive about $10 million from the sale. Jackman will remain an ambassador for the brand,as he has been since 2015.