With the acquisition of Victorian business Hedrena, Australian Wool Network has further cemented the future of the nation’s wool knitwear industry. The purchase of the Geelong-based company for an undisclosed sum gives the nation’s largest independent wool broker two Australian based manufacturing companies, three retail fashion brands and retail outlets across three states.
The acquisition comes on the back of the opening of Australian Wool Network’s new Hysport factory at Carrum Downs in March. Hysport manufactures garments made from pure wool and wool blends, which are marketed under the brands, MerinoSnug, Only Merino and OM.
With this acquisition, Hedrena staff and the company’s specialised circular knitting machinery will be relocated to Carrum Downs this month. Hedrena was originally established in 1992 by Hedley and Irena Earl to value add to their superfine Merino flock at Ocean Grove. A pioneer of the next-to- skin base layer market, the company uses non-mulesed Australian wool, which is spun overseas and knitted, cut and sewn at the Geelong West factory.
According to Australian Wool Network (AWN) managing director John Colley, the acquisition would create job growth, with new roles to be created at Carrum Downs.