The Propel Group is selling its Driza-Bone business to S. Kidman and Co.
The new owner is an Australian beef producer, overseen by chairman and mining magnate Gina Rinehart.
“S. Kidman and Co is committed to growing this historic Australian brand both in the local and international markets,” Propel Group CEO Caroline Elliott said.
“We are proud to have been the custodians of this 125 year old iconic brand and excited that its development and future growth will continue under Australian ownership and investment. We look forward to working with and supporting Driza-Bone as it transitions to new ownership”.
The Propel Group plans to further invest in the growth of its Australian rural outfitting brand, RB Sellars, including the continued rollout of more stores across Australia and New Zealand.
Driza-Bone products will continue to be stocked by RB Sellars stores nationally.