Australian magnate Andrew Forrest and his private investment group Tattarang has bought $12 million in shares of Ridley Corporation, holding 5.1% of the animal nutrition group. Tattarang is one of Australia’s largest private investment groups and its investment portfolio spans across agri-food, energy, resources, property, hospitality and sport.

Ridley Corporation has been restructuring the organization with the removal of a number of layers in certain parts of the organization to deliver a leaner, simplified and flatter reporting structure with clear lines of accountability. The new structure is designed to engender proactive customer engagement and better alignment while removing an estimated $5 million of annualized costs.