Treasury Wine Estates sells Seppelt to Stonier Wines owner

Treasury Wine Estates (TWE) has agreed to sell the Seppelt brand and its associated assets to Aaron Drummond, the CEO and co-owner of Stonier Wines, and his partners. The transaction is expected to close in the middle of next month.

The sale includes the 160-year-old Seppelt winery in Great Western, Victoria, its namesake brand, the cellar door, and the Drumborg vineyard near Portland. This move is part of TWE’s broader strategy to simplify its brand portfolio and reduce its production footprint by divesting ‘non-core’ assets. The company aims to achieve $100 million in balance sheet savings following a year-end loss of nearly $650 million.

Seppelt, which has a history in Australia dating back to 1851, will remain under Victorian ownership. Drummond expressed that the acquisition provides an opportunity to build upon Seppelt’s reputation as a leader in Australian sparkling and fine wine.