Treasury Wine Estates (TWE) has agreed to sell historic Australian wine brand Seppelt to a group led by Stonier CEO and co-owner Aaron Drummond.
Treasury Wine Estates (TWE) is continuing the pruning of its portfolio and estates by selling Seppelt to Aaron Drummond, CEO and co-owner of Mornington Peninsula winery Stonier, and partners.
The sale, for an undisclosed sum, includes the Seppelt brand, the Great Western winery, cellar door and vineyards, and the Drumborg vineyard near Portland. It ensures Seppelt will continue under Victorian ownership.
The vineyards encompass some 740 acres in Victoria and South Australia, with the core Great Western Estate covering 290 acres and Drumborg a further 94 acres under vine.
Seppelt is best known for its cool-climate wines and sparkling Shiraz.
TWE simplifies portfolio
The sale is part of TWE's drive to create a more focused brand portfolio and simplified production footprint, as outlined to investors in June.