Treasury Wine Estates‘ huge Karadoc winery near Mildura has been sold to two South Australian businesmen with interests in the wool industry.
They intend to convert it into a storage and logistics hub.
TWE announced the closure of Karadoc in July last year, blaming falling commercial wine sales for the decision.
Karadoc opened in 1973 and was the engine room for commercial wine production including for Wolf Blass and Yellowglen.
The Financial Review reports that the business that bought the winery – Karadoc Logistics Hub – is jointly owned by Troy Harrington and Mark Dyson.
Mr Dyson is managing director of family company Quality Wool Group.
TWE says the facility will continue to provide storage services to the company following the sale.
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