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Australian private investment company From Wikipedia, the free encyclopedia
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]
Formerly | Minderoo Group |
---|---|
Company type | Privately held company |
Headquarters | , Australia |
Website | tattarang |
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]
Harvest Road concentrate on three core areas: meat, aquaculture and plant based.[3] As of March 2022[update], 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 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 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[update], 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 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 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 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]
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]
Tattarang acquired Australian hatmaker Akubra in November 2023.[39]
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]
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]
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.
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]
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