Australian Wool Networks has made its second manufacturing acquisition, purchasing Geelong’s merino clothing business Hedrena for an undisclosed amount.
AWN is the country’s second-biggest wool independent wool broker. It announced in January last year that it acquired Carrum Downs’s Hysport, and opening its new factory in March, quadrupling production.
As well as manufacturing, Hedrena operates retail stores, including in Melbourne, Geelong and Sydney.
“All of Hedrena’s retail outlets will be retained and we are in negotiations to expand the outlets right across Australia,’’ AWN managing director John Colley told Farm Weekly.
“Hedrena’s sustainable lifestyle wear is a totally different product to the MerinoSnug range but is complementary.
“It is a natural Merino product and will appeal to the same customer base.’’
Hedrena was established in 1992. Its staff and circular knit machinery will be moved to Carrum Downs, reports Farm Weekly.