Andrew and Nicola Forrest eye off iconic South Australian wine brand Penfolds after buying R.M. Williams
After snapping up R.M. Williams this week, we can reveal mining billionaires Andrew and Nicola Forrest are eyeing off another iconic South Australian brand.
SA News
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New R.M. Williams owner Andrew “Twiggy” Forrest is eyeing off another iconic South Australian brand, Penfolds.
The Forrest family investment firm Tattarang is examining 176-year-old Penfolds, which owner Treasury Wine Estates in April said could be floated as a separate company.
Tattarang, whose chief executive is Adelaide-raised Andrew Hagger, is keen to invest in Australian firms as part of a nation and community-building strategy.
Announcing on Monday the R.M Williams investment for a reported $190m, Dr Forrest said his family had “a big, solid lump in its throat about returning R.M. Williams back to Australia” and wanted to build on the 88-year-old label’s quintessentially Australian legacy of quality.
Like R.M Williams, a Penfolds purchase would be considered an opportunity for Tattarang to grow the business and forge new markets.
Treasury, whose chief executive is Adelaide-raised Tim Ford, in April said a Penfolds demerger was expected to be completed by the end of 2021.
That would enable Treasury to accelerate its separate focus on luxury versus commercial wines.
DOWNER RESPONDS TO “THAT” VIDEO
Alexander Downer has achieved notoriety in his political career for, among other things, donning fishnet stockings and becoming Australia’s longest-serving foreign minister.
But he has achieved global prominence for a diplomatic cable sent after drinks with former Donald Trump adviser George Papadopoulos, who claimed Russian involvement in the 2016 presidential election.
That encounter has been dramatised in a two-part telemovie, The Comey Rule, about former FBI director James Comey. A video snippet shows Downer is the victim of a great inaccuracy – the actor playing him looks nothing like him and feigns a broad Australian accent – he does not adopt Downer’s cultivated tones.
We asked the former federal Liberal leader his views on the video.
He responded: “Ha ha! I did see it! As usual, hyperbole from the media! The real scene and all that was said was much more prosaic. And BTW it was at a wine bar, not some American-style gin palace!”
In this case, apart from the tongue-in-cheek slight at the media, we are more than inclined to trust Downer’s view of events.
i'm sorry, but are we all across this terrible Alexander Downer impression from The Comey Rule tv miniseries? pic.twitter.com/HwuiHGug3F
— Naaman Zhou (@naamanzhou) October 7, 2020