Treasury Wine Estates has delivered on June’s pledge to offload assets deemed surplus to requirements, agreeing the sale of sparkling-wine specialist Seppelt in Australia’s Victoria state.
The transaction, announced earlier today (21 September), consists of Seppelt’s portfolio of brands, its Great Western winery, cellar door and vineyards as well as the Drumborg vineyard, around 180km south of the unit’s main base in Great Western. The CEO of Victoria’s Stonier winery, Aaron Drummond, has agreed to buy the business for an undisclosed sum.
The divestment follows almost three months after Treasury outlined plans to sell three other vineyards in the country.
“Seppelt holds a distinctive place in Australian wine, with a proud history shaped by generations of winemakers, viticulturists and people across the business and its local communities,” said Treasury’s MD for Australia & New Zealand and Europe, Angus Lilley.
“For the people who know and love Seppelt, it’s a positive move that keeps the brand in Victorian hands. Its wines, heritage and place in the history of Australian wine are at the heart of what makes Seppelt special, and Aaron and his team are well placed to carry that forward.”
In results from the 12 months to the end of June, announced last month, the Penfolds owner reported an 11.2% fall in sales on the corresponding period last year. The second half of fiscal 2026, however, performed more strongly than H1, dipping by 4.8% in sales terms compared to the earlier half’s 16.6% tumble.
