Hugh Jackman was the company’s ambassador. What’s more Aussie than that?
Hugh Jackman was the company’s ambassador. What’s more Aussie than that?

Aussie icon up for sale for $500 million

Adelaide's iconic footwear producer RM Williams has been put on the market for a whopping $500 million.

Investment bank Goldman Sachs was brought in by the bootmaker's owner, Singapore-based L Catterton Asia, to shop around the luxurious brand ahead of a potential sale towards the end of the year, The Australian Financial Review reported.

Boots famously crafted in the Adelaide suburb Prospect.
Boots famously crafted in the Adelaide suburb Prospect.


The boots, famously branded as being made in Adelaide's northern suburb Prospect, have outgrown their roots in rural towns and are a common accessory in Australian cities and overseas.

RM Williams has about 50 storefronts across the country as well as in New York, London and Scandinavia.

Hugh Jackman was the company’s ambassador. What’s more Aussie than that?
Hugh Jackman was the company’s ambassador. What’s more Aussie than that?

A 49.9 per cent stake was bought in the company by L Catterton in 2013, which helped the iconic Australian brand grow its presence across the world and steadily lift sales.

That international business and the superannuation fund IFM Investors bought full control of RM Williams in 2014.

Last financial year, the bootmaker's sales revenue was $142 million.

L Catterton is a private equity investor backed by LVMH Moët Hennessy, which is behind powerhouse brands such as Louis Vuitton, Christian Dior and, of course, Moët Hennessy champagne.

The company's owners are wanting to sell RM Williams for between $400 million and $500 million.

Continue the conversation on Twitter @James_P_Hall or james.hall1@news.com.au



Healthy Harold to continue visiting Gladstone schools

premium_icon Healthy Harold to continue visiting Gladstone schools

Find out how much the government has pledged for the service

'Amazing': Little Day Out a big hit with the children

premium_icon 'Amazing': Little Day Out a big hit with the children

Hundreds of children gathered for a day of fun today at GECC

PHOTOS: All the action from the 1770 festival

premium_icon PHOTOS: All the action from the 1770 festival

Were you snapped by our roving photographer?