Tattarang

Last updated

Tattarang
FormerlyMinderoo Group
Company typePrivately held company
Headquarters
Perth
,
Australia
Website tattarang.com

Tattarang is an Australian private investment company owned by Andrew Forrest and his family. Tattarang invests in a diverse range of businesses across agri-food, energy, health technology, property, resources, and lifestyle. The group is made up of six business divisions: Fiveight, Harvest Road, Squadron Energy, Tenmile, Wyloo Metals and Z1Z. [1]

Contents

Tattarang was previously known as Minderoo Group until May 2020 when the company was rebranded. The name is a tribute to a stallion owned by Forrest’s mother at the family’s Minderoo Station during the 1950s. [2]

Divisions

Harvest Road

Harvest Road concentrate on three core areas: meat, aquaculture and plant based. [3] As of March 2022, Forrest owns the agribusiness Harvest Road, [4] which deals in beef and seafood, with a focus on ethically and sustainably produced food. Harvest Road owns the brands Harvey Beef, Leeuwin Coast, and Ernest Green and Sons. [5]

Forrest acquired meat processing company Harvey Beef in May 2014 for A$40 million. The biggest exporter of beef in Western Australia, it was until August 2014 the only one accredited to export to China. [6] [7]

Squadron Energy

Squadron Energy is an Australian resources company focused on projects in natural resources and renewable energy. [8]

Squadron acquired 75 percent of wind farm developer Windlab in June 2020. [9] Ownership of Windlabs' Wongalee and Prairie projects were transferred to Fortescue Future Industries in February 2024. [10]

In March 2022 Forrest, via Squadron, along with Atlassian co-founder Mike Cannon-Brookes, together invested A$210 million in the Australia-Asia Power Link project, which is backed by the Australian-Singaporean company Sun Cable. It includes the construction of a solar and battery farm 12,000 hectares (120 km2) in size at Powell Creek, Northern Territory, and a power cable to link it to Singapore (via Indonesia), leaving Australia at Murrumujuk beach, NT. Transmission was planned to start in 2026. [11] However, Sun Cable went into administration in January 2023 owing to disagreements between Forrest and Cannon-Brookes, and when put up for sale, both Squadron and Cannon-Brookes' company Grok Ventures put in bids for it by May 2023. [12]

In December 2022, Squadron acquired CWP Renewables, an Australian developer and owner of renewable energy systems, for over $4 billion. [13]

Wyloo Metals

Wyloo Metals is Tattarang's mining division. In December 2020, Wyloo acquired a near 38 percent stake in Canadian nickel mining company Noront Resources for US$26.5 million. [14] [15] In December 2021, Wyloo announced it would acquire Noront after BHP dropped out of the ensuing takeover battle. [16] The acquisition was completed in April 2022 and Noront was renamed Ring of Fire Metals in September 2022 after the region in Ontario. [17]

Wyloo began acquiring shares in mining company Western Areas in March 2021, reaching a 9.14 percent stake in January 2022. [18] [19] When IGO made a takeover offer for Western Areas in December 2021, Wyloo emerged as a potential rival bidder or disruptor of the deal. [20] [18] In February 2022, Wyloo and IGO struck a peace deal under which Wyloo would support IGO's bid and the two companies would form a joint venture to investigate and, if economically feasible, advance development of a downstream nickel processing facility in WA. [18] In April 2023, the Western Australian government allocated land in Kwinana Beach for the refinery, and Wyloo and IGO announced they were looking into integrating a plant producing precursor cathode active material at the proposed refinery. A final investment decision is due in 2024. [21] [22]

As of August 2021, Wyloo held a 12 percent stake in Poseidon Nickel and just under 5 percent of nickel producer Panoramic Resources. [23] In January 2022, it reduced its stake in Poseidon to under 5 percent. [24]

In August 2022, Wyloo made a A$150 million cornerstone investment in West Australian rare earths developer Hastings Technology Metals. The investment allowed Hastings to purchase a 22 percent stake in Canadian magnet maker Neo Performance Materials. [25] [26]

On 21 March 2023, Wyloo made a A$760 million takeover bid for nickel miner Mincor Resources. Wyloo at the time already held a 19.99 percent stake in Mincor. [27] By 5 July 2023, Wyloo's stake had increased to over 90 percent. [28]

Fiveight

Fiveight invests in, develops and manages residential, commercial and industrial property. On 29 April 2022 it was announced that Fiveight bought the Carillon City centre for AU$80 million. Fiveight owns Cottesloe’s Indiana Teahouse, East Perth Power Station and 190 Saint Georges Terrace, all of which it plans to redevelop. [29] In February 2023, Fiveight acquired the Waldorf Astoria Sydney, a hotel in development in Circular Quay, for around A$520 million. [30]

Z1Z

Z1Z is Tattarang's hospitality and lifestyle arm. It operates the luxury Gaia spa in Byron Bay, [31] Cape Lodge hotel in Margaret River, [32] and restaurants Cooee at the Old Swan Brewery and Indigo Oscar at Indiana Teahouse. [33] [34]

Tenmile

Tenmile is a venture capital firm which invests in health technology companies and solutions delivering life-changing ideas and better health outcomes. It launched in August 2022 with a $250 million fund. It is named after a pool of water on the Ashburton River. [35]

Other businesses and stakes

R. M. Williams

Tattarang purchased footwear and clothing company RM Williams in 2020 from Hong Kong based owner L Catterton. [36] The (originally Australian) company had been partly owned by French luxury brand conglomerate LVMH since 2013. [37] The company was purchased for $190 million. [38] Around 35 per cent of RM Williams' manufacturing is done offshore, and Forrest has said he will return this part of the business's manufacture to Australia. [38]

Akubra

Tattarang acquired Australian hatmaker Akubra in November 2023. [39]

SFM Marine

SFM Marine is a maritime services company owned by Tattarang after it acquired Northport Marine Services in 2020 and rebranded it. [40] [41] In 2021, SFM Marine acquired Henderson-based company The Boat Business. [42]

Stakes in other companies

Tattarang holds a 19.3 percent stake in WA-based shipbuilder Austal, [30] a 18.5 percent stake in cattle and beef producer Australian Agricultural Company, [43] and a 11.5 percent stake in food and drinks company Bega Group. [44] In July 2022, Tattarang increased its stake in beauty company BWX Group to 19.9 percent. [45] In January 2023, Tattarang took a minority stake in Australian fashion brand Camilla in a deal reported to be worth around $40 million. [46]

Ukraine Green Growth Initiative

In 2022, Andrew Forrest stated that he will invest $740 million in businesses in Ukraine to help their economy recover. [47] This investment fund will focus on primary infrastructure such as energy and communications to build a digital green grid, so Ukraine can become a model for the world as a leading digital green economy.

Company affairs

John Hartman was appointed CEO of Tattarang in October 2022, replacing Andrew Hagger who was CEO since 2019. [48] Luca Giacovazzi is CEO of Wyloo Metals. [49] Jason Willoughby has been CEO at Squadron Energy since January 2023, taking over from Eva Hanly who was CEO since July 2022. [50] [51] Joost Heymeijer has been CEO of Z1Z since June 2022. [52] Paige Walker will commence her role as the inaugural CEO of Fiveight in July 2023. [53]

The company has been headquartered at the Old Swan Brewery since April 2020. [54] It previously operated out of the former Sunset Hospital site in Dalkeith. [55]

Related Research Articles

<span class="mw-page-title-main">BHP</span> Australian multinational mining and petroleum company

BHP, officially named BHP Group Limited and formerly known as BHP Billiton, is an Australian multinational mining and metals public company headquartered in Melbourne, Australia.

<span class="mw-page-title-main">Woolworths Group (Australia)</span> Australian multinational retail company

Woolworths Group Limited is an Australian multinational retail and finance company, primarily known for the operation of its retail chain Woolworths Supermarkets across Australia, Woolworths in New Zealand and its discount department store Big W. Headquartered in Bella Vista, Sydney, it is the largest company in Australia by revenue and number of employees, and the second-largest in New Zealand.

<span class="mw-page-title-main">Vale Canada</span> Wholly owned subsidiary of the Brazilian mining company Vale

Vale Canada Limited is a wholly owned subsidiary of the Brazilian mining company Vale. Vale's nickel mining and metals division is headquartered in Toronto, Ontario, Canada. It produces nickel, copper, cobalt, platinum, rhodium, ruthenium, iridium, gold, and silver. Prior to being purchased by CVRD in 2006, Inco was the world's second largest producer of nickel, and the third largest mining company outside South Africa and Russia of platinum group metals. It was also a charter member of the 30-stock Dow Jones Industrial Average formed on October 1, 1928.

<span class="mw-page-title-main">Vale S.A.</span> Multinational diversified metals and mining corporation

Vale, formerly Companhia Vale do Rio Doce, is a Brazilian multinational corporation engaged in metals and mining and one of the largest logistics operators in Brazil. Vale is the largest producer of iron ore and nickel in the world. It also produces manganese, ferroalloys, copper, bauxite, potash, kaolin, and cobalt, currently operating nine hydroelectricity plants, and a large network of railroads, ships, and ports used to transport its products.

Glencore plc is a Swiss multinational commodity trading and mining company with headquarters in Baar, Switzerland. Glencore's oil and gas head office is in London and its registered office is in Saint Helier, Jersey. The current company was created through a merger of Glencore with Xstrata on 2 May 2013. As of 2015, it ranked tenth in the Fortune Global 500 list of the world's largest companies. In the 2020 Forbes Global 2000, Glencore International was ranked as the 484th-largest public company in the world. As of July 2022, it was the world's largest commodity trader. In 2023, the company was ranked 59th in the Forbes Global 2000.

<span class="mw-page-title-main">Fortescue (company)</span> Iron ore mining company in Western Australia

Fortescue is a global metal mining company headquartered in Australia. Fortescue focused on iron ore mining under the name of Fortescue Metals Group (FMG) until July 2023. As of 2017, Fortescue is the fourth-largest iron ore producer in the world. The company has holdings of more than 87,000 km2 in the Pilbara region of Western Australia, making it the largest tenement holder in the state, larger than both BHP and Rio Tinto.

<span class="mw-page-title-main">Andrew Forrest</span> Australian mining businessman (born 1961)

John Andrew Henry Forrest, nicknamed Twiggy, is an Australian businessman. He is best known as the former CEO of Fortescue Metals Group (FMG), and has other interests in the mining industry and in cattle stations.

<span class="mw-page-title-main">Mount Keith Mine</span> Nickel mine in Western Australia

Mount Keith Mine is an open pit nickel mine in Western Australia. It is operated by BHP. The site's closest landmark is the town of Wiluna, 85 km (53 mi) to the north.

<span class="mw-page-title-main">Canaccord Genuity</span> Canadian financial company

Canaccord Genuity Group Inc. is a global, full-service investment banking and financial services company that specializes in wealth management and brokerage in capital markets. It is the largest independent investment dealer in Canada. The firm focuses on growth companies, with operations in 10 countries worldwide and the ability to list companies on 15 stock exchanges. Canaccord Genuity, the international capital markets division, is based in Canada, with offices in the US, the UK, France, Germany, Ireland, Hong Kong, China, Singapore, Dubai, Australia, Barbados, and The Bahamas.

Lundin Mining Corporation is a Canadian company that owns and operates mines in Sweden, United States, Chile, Portugal and Brazil that produce base metals such as copper, zinc, and nickel. Headquartered in Toronto, the company was founded by Adolf Lundin and operated by Lukas Lundin. While it was incorporated to pursue an interest in a diamond mine in Brazil, the company re-structured and raised funds to develop the Storliden mine in Sweden. It purchased the Swedish Zinkgruvan Mine from Rio Tinto and then merged with Arcon International Resources for its Galmoy Mine in Ireland and with Eurozinc for its Neves-Corvo mine in Portugal. The company subsequently purchased and operated the Eagle mine, Candelaria mine, and Chapada mine.

Vitol is a Swiss-based Dutch multinational energy and commodity trading company that was founded in Rotterdam in 1966 by Henk Viëtor and Jacques Detiger. Though trading, logistics and distribution are at the core of its business, these are notably complemented by refining, shipping, terminals, exploration and production, power generation, and retail businesses. Vitol has over 40 offices worldwide, with its largest operations in Geneva, Houston, London, and Singapore.

The Ring of Fire is a vast, mineral-rich region located in the remote James Bay Lowlands of Northern Ontario, Canada. Spanning approximately 5,000 square kilometres (1,900 sq mi), the area is rich in chromite, nickel, copper, platinum group elements, gold, zinc, and other valuable minerals. Discovered in the early 21st century, the Ring of Fire is considered one of the most significant mineral deposits in Canada, with the potential to greatly impact the nation's economy and global mining industry. The development of this region has been a subject of ongoing debate, as stakeholders weigh the economic benefits against environmental concerns and the rights of Indigenous communities in the area. Despite these challenges, the Ring of Fire had remained a focal point for the Canadian mining sector and government, as well as international investors. By July 2023, the federal and provincial governments were no longer in agreement on priorities for federal funding of the Ring of Fire. Georgia Lake lithium project, KGHM's Victoria mine proposal and the Onaping Depth nickel project—which will produce minerals required for the low carbon economy—had become higher priorities, particularly as the Ring of Fire project is situated in a region of "vast, environmentally sensitive...peatlands".

<span class="mw-page-title-main">Sungevity</span>

Sungevity is a solar electricity company based in Oakland, California. Founded in 2007, the company designs home solar systems; provides financing options; and manages system installation, maintenance, and performance.

<span class="mw-page-title-main">Mike Cannon-Brookes</span> Australian businessman (born 1979)

Michael Cannon-Brookes is an Australian businessman who is the co-founder and co-CEO of software company Atlassian.

<span class="mw-page-title-main">Nickel mining in Western Australia</span> Mining activity in Western Australia

Nickel mining in Western Australia has been an industry that has had many fluctuations of fortune in its history. Large fluctuations in the world nickel price have seen mines close and reopen on several occasions.

<span class="mw-page-title-main">Guzman y Gomez</span> Australian dining and fast-food chain

Guzman y Gomez is an Australian multinational casual-dining and fast food restaurant chain. It specialises in Mexican cuisine with burritos, nachos, tacos, quesadillas and other Mexican-inspired items available. Many restaurants also serve coffee through the “Cafe Hola” brand which operates during the morning.

<span class="mw-page-title-main">R. M. Williams (company)</span> Australian footwear and clothing retail company

R.M. Williams is an Australian footwear and clothing company. It is best known for producing chelsea boots for men and women. The company was founded by Reginald Murray "R.M." Williams. It is currently owned by Tattarang, an investment company owned by mining magnate Andrew Forrest.

CWP Renewables is an Australian developer and owner of renewable energy systems such as wind farms and solar farms.

<span class="mw-page-title-main">Adani Green Energy</span> Indian renewable energy company

Adani Green Energy Limited (AGEL) is an Indian renewable energy company, headquartered in Ahmedabad, India. It is majority-owned by Indian conglomerate Adani Group and minority-owned by TotalEnergies. The company operates Kamuthi Solar Power Project, one of the largest solar photovoltaic plants in the world.

<span class="mw-page-title-main">Kambalda Nickel Operations</span> Nickel mine in Western Australia

Kambalda Nickel Operations or Kambalda Nickel Mine is a surface and underground nickel mine as well as a nickel concentrator, near Kambalda East, Western Australia. The deposit was discovered in 1954 and the mine opened in 1967, operated by WMC Resources which was taken over by BHP in 2005. Prior to this, between 2001 and 2003, WMC ceased mining operations at Kambalda and divested itself of the mining assets.

References

  1. ↑ "Who We Are". Tattarang. Retrieved 3 December 2022.
  2. ↑ Newell, Daniel; Newell, Laura (13 May 2020). "Andrew Forrest rebrands family business interests" . The West Australian. Retrieved 10 January 2023.
  3. ↑ "Harvest Road". Tattarang. Retrieved 3 December 2022.
  4. ↑ O'Connor, Ted (14 March 2022). "Andrew Forrest's purchase of Kimberley cattle stations has traditional owners hopeful of social benefits". ABC News. ABC Kimberley. Australian Broadcasting Corporation . Retrieved 31 March 2022.
  5. ↑ "Our Business". Harvest Road. Retrieved 31 March 2022.
  6. ↑ Thompson, Brad (2 May 2014). "Forrest buys Harvey Beef for $40m". The West Australian . Retrieved 2 May 2014.
  7. ↑ Roman, Hayley (4 August 2014). "Chinese meat importer inks $1 billion deal with WA processor V&V Walsh". ABC News . Australia. Retrieved 26 April 2017.
  8. ↑ "Squadron Energy". Tattarang. Retrieved 3 December 2022.
  9. ↑ Aston, Joe (4 April 2023). "Apple's Tim Cook expels Andrew Forrest's hot air" . Australian Financial Review. Retrieved 27 April 2023.
  10. ↑ Ker, Peter; Thompson, Brad (24 July 2024). "Forrest's private Windlab sells big wind projects to Fortescue" . Australian Financial Review. Retrieved 27 July 2024.
  11. ↑ "Twiggy Forrest, Mike Cannon-Brookes lead $210m raise for intercontinental solar power project". Business News Australia. 14 March 2022.
  12. ↑ Terzon, Emilia (5 May 2023). "Sun Cable: Why Australia's two richest men are battling to control an unbuilt solar farm". ABC News (Australia) . Retrieved 5 May 2023.
  13. ↑ Williams, Perry (7 December 2022). "Andrew Forrest biggest green player after $4bn CWP play" . The Australian . Retrieved 3 March 2023.
  14. ↑ Brad, Thompson (16 September 2022). "Meet the Forrest young gun who shot down BHP". Australian Financial Review. Retrieved 13 March 2023.
  15. ↑ Hiyate, Alisha (29 June 2022). "Post Noront takeover, Wyloo gets to work on Ring of Fire assets: Exclusive interview". The Northern Miner. Retrieved 13 March 2023.
  16. ↑ Kumar, Arunima; Nainan, Nikhil Kurian; C S, Yamini (22 December 2021). "Wyloo to buy nickel miner Noront after BHP drops off from race". Reuters. Retrieved 13 March 2023.
  17. ↑ Eastwood, Alexandra (28 September 2022). "Noront Resources renamed Ring of Fire Metals as activity recommences". Australian Mining. Retrieved 13 March 2023.
  18. 1 2 3 McKinnon, Stuart (17 February 2022). "IGO, Forrest strike peace deal over Western Areas". The West Australian. Retrieved 3 April 2023.
  19. ↑ Ker, Peter (26 January 2022). "Forrest fuels another nickel bidding war". Australian Financial Review. Retrieved 3 April 2023.
  20. ↑ Mishra, Savyata (16 December 2021). "Australian miner IGO to buy Western Areas for $785 million in EV battery push". Reuters. Retrieved 3 April 2023.
  21. ↑ Jackson, Lewis (14 April 2023). "Australia signs land deal for proposed battery material plant". Reuters. Retrieved 26 April 2023.
  22. ↑ Ker, Peter (14 April 2023). "Forrest and IGO signal battery metals processing plant" . Australian Financial Review. Retrieved 26 April 2023.
  23. ↑ Evans, Nick (31 August 2021). "Andrew Forrest's Wyloo Metals ups the ante in fight for control of Noront Resources". The Australian. Retrieved 3 April 2023.
  24. ↑ Ker, Peter (26 January 2022). "Forrest fuels another nickel bidding war". Australian Financial Review. Retrieved 3 April 2023.
  25. ↑ Iannucci, Esmarie. "Hastings takes a stake in TSX-listed Neo, funding it with Wyloo cash". Mining Weekly. Retrieved 14 March 2023.
  26. ↑ Ker, Peter; Thompson, Brad (26 August 2022). "Forrest pumps $150m into rare earths aspirant". Australian Financial Review. Retrieved 14 March 2023.
  27. ↑ Thompson, Brad (20 March 2023). "Forrest in $760 million takeover bid for BHP nickel supplier". Australian Financial Review. Retrieved 1 April 2023.
  28. ↑ Thompson, Brad (5 July 2023). "Forrest makes a 'whatever it takes' bet on clean nickel" . Australian Financial Review. Retrieved 5 July 2023.
  29. ↑ "Dexus to sell Carillon". Business News. 29 April 2022. Retrieved 3 December 2022.
  30. 1 2 Bleby, Michael (21 February 2023). "Forrest spends $520m on Australia's first Waldorf hotel". Australian Financial Review. Retrieved 23 February 2023.
  31. ↑ LaFrenz, Carrie (21 October 2021). "Music legend sells her luxury Byron spa for $30m to Andrew Forrest". Australian Financial Review. Retrieved 12 January 2023.
  32. ↑ "Tattarang to acquire Margaret River's iconic Cape Lodge". The Hotel Conversation. 8 December 2021. Retrieved 12 January 2023.
  33. ↑ Collins, Simon (29 September 2020). "Twiggy's first restaurant to revive Old Swan Brewery". The West Australian. Retrieved 12 January 2023.
  34. ↑ Ryan, Clare (2 December 2021). "Vibrant Bar and Dining Room Indigo Oscar Brings Latin American Flavours to Cottesloe's Indiana Teahouse". Broadsheet. Retrieved 12 January 2023.
  35. ↑ Wignell, Liam (16 August 2022). "Tattarang launches $250M health and biotech VC". Startup News in WA, events, advice, podcasts and ecosystem. Retrieved 12 January 2023.
  36. ↑ Thompson, Sarah; Macdonald, Anthony; Boyd, Tim (17 October 2020). "Forrest family's Tattarang stitches up $190m RM Williams deal". Australian Financial Review. Retrieved 12 January 2023.
  37. ↑ "'Decision of the heart': Andrew Forrest buys iconic bootmaker RM Williams". ABC News. 18 October 2020. Retrieved 10 February 2022.
  38. 1 2 "Andrew Forrest wants RM Williams to be fully true blue". Australian Financial Review. 27 January 2021. Retrieved 10 February 2022.
  39. ↑ "Billionaire miners Andrew and Nicola Forrest buy Australian hatmaker Akubra". The Guardian. 19 November 2023. ISSN   0261-3077 . Retrieved 19 November 2023.
  40. ↑ "SFM Marine". Business News. Retrieved 23 February 2023.
  41. ↑ "SFM Marine - the new name in premier maritime services and investment". Tattarang. Retrieved 23 February 2023.
  42. ↑ Purnell, Kate (17 September 2021). "Twiggy sets sail on a tide of new skippers" . The West Australian. Retrieved 23 February 2023.
  43. ↑ Yun, Jessica (23 November 2022). "Billionaire beef battle sizzles as Andrew Forrest buys $11.6m wagyu stake". The Sydney Morning Herald. Retrieved 1 April 2023.
  44. ↑ Evans, Simon (24 July 2022). "Andrew Forrest creeps up on Bega Cheese". Australian Financial Review. Retrieved 23 February 2023.
  45. ↑ Kruger, Colin (6 July 2022). "Andrew 'Twiggy' Forrest lifts stake in Zoe Foster Blake linked beauty business BWX". The Sydney Morning Herald. Retrieved 4 April 2023.
  46. ↑ Koehn, Emma (27 January 2023). "Forrest family backs Australian fashion brand Camilla". The Sydney Morning Herald. Retrieved 28 April 2023.
  47. ↑ Bagshaw, Eryk (17 November 2022). "Andrew Forrest's $740 million bet on Ukraine". The Sydney Morning Herald. Retrieved 12 January 2023.
  48. ↑ Milne, Peter (24 October 2022). "Andrew Forrest loses boss of his private empires". The Sydney Morning Herald. Retrieved 1 April 2023.
  49. ↑ Ross, Ian (16 April 2022). "'Actions speak louder than words,' says Wyloo Metals CEO on their Ring of Fire plans". Northern Ontario Business. Retrieved 1 April 2023.
  50. ↑ Evans, Nick; Williams, Perry (11 January 2023). "Andrew Forrest moves Squadron boss Eva Hanly from post after six months". The Australian . Retrieved 2 April 2023.
  51. ↑ "Eva Hanly to lift Squadron Energy to new heights as CEO". Business Acumen. 30 June 2022. Retrieved 2 April 2023.
  52. ↑ Prior, Neale (26 June 2022). "Forrests go Dutch in push to grow luxury resort operations". The West Australian. Retrieved 2 April 2023.
  53. ↑ Page, Hannah (23 March 2023). "Walker to lead Forrest's property arm Fiveight - Australian Property Journal". Australian Property Journal. Retrieved 1 April 2023.
  54. ↑ "The Swan (Old Swan Brewery)". Fiveight. Retrieved 1 April 2023.
  55. ↑ "Twiggy snaps up another WA landmark" . The West Australian. 3 July 2019. Retrieved 1 April 2023.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.