Tattarang (Andrew Forrest's investment vehicle) → BWX Limited (ASX:BWX), ~17% stake
completedDeal announced2022-06-20
BuyerTattarang (Andrew Forrest's investment vehicle)
SellerBWX Limited (ASX:BWX), ~17% stake
SectorBeauty/Personal Care
ValueA$35.0M
Deal typePE
Andrew Forrest's Tattarang built an on-market stake of just under 17% in ASX-listed beauty group BWX (owner of Sukin), spending more than A$35 million through 2022.
Why the buyer wanted it
Tattarang was building a broader beauty/consumer investment portfolio (also including Go-To Skincare and Flora & Fauna) and saw value in BWX at its then-depressed share price.
Why the seller agreed
Not applicable — stake built via on-market purchases from multiple sellers.
Stock reaction
BWX shares came under sustained pressure through this period amid downgraded earnings forecasts, independent of Tattarang's stake-building.
Deal mechanics
Deal structure
On-market share purchases building to just under 17%