Driza-Bone is being acquired by S. Kidman and Co., an Australian beef producer overseen by chairman and mining magnate Gina Rinehart. Information regarding the current ownership of Propel Group is not available in the provided details.
Understanding the Ownership Transition
The iconic Australian brand, Driza-Bone, known for its durable outerwear, is transitioning ownership. Previously held by the Propel Group, the business is now being sold to S. Kidman and Co. This marks a significant change for the heritage brand, aligning it with a major player in Australia's agricultural and mining sectors.
Driza-Bone's New Owner
The new custodians of Driza-Bone are:
- S. Kidman and Co.: An established Australian beef producer with a long history.
- Gina Rinehart: The company is overseen by the prominent Australian mining magnate and businesswoman, Gina Rinehart, who serves as its chairman. This acquisition expands Rinehart's portfolio beyond traditional agricultural and mining ventures into consumer brands.
This strategic acquisition by S. Kidman and Co. indicates a diversification of interests for the beef producer, bringing a well-known apparel brand under its umbrella.
The Propel Group's Role
The Propel Group is identified as the seller of the Driza-Bone business. While the reference clarifies their role in divesting Driza-Bone, it does not provide details regarding the ownership structure or parent company of Propel Group itself.
Ownership Status Overview
To clarify the current and transitioning ownership, refer to the table below:
| Entity | Ownership/Status | Key Figures/Details |
|---|---|---|
| Driza-Bone | Under acquisition by S. Kidman and Co. | New owner is an Australian beef producer overseen by Gina Rinehart. |
| Propel Group | Seller of Driza-Bone | Ownership of Propel Group itself is not specified. |
This transition highlights a notable shift in the Australian business landscape, as a prominent beef and mining entity expands its influence into the retail apparel sector through a heritage brand like Driza-Bone.
