Treasury Wine Estates (TWE) has announced an agreement to sell Seppelt to Aaron Drummond, CEO and co-owner of Mornington Peninsula winery Stonier, and partners.
The sale will see Seppelt’s winemaking heritage continue under Victorian ownership and includes the Seppelt brand, the Great Western winery, cellar door and vineyards and the Drumborg vineyard near Portland.
At its June Investor Day, TWE announced plans to explore the sale of non-core brands and assets as part of its broader transformation to create a more focused brand portfolio and simplified production footprint.
Treasury Wine Estates managing director, Australia & New Zealand and Europe, Angus Lilley said the sale was a positive outcome for Seppelt, bringing together two Victorian wine businesses with a shared appreciation for great Australian wine, heritage and regional winemaking.
“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,” Angus said.
“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.”
Aaron said, “Seppelt has produced some of the greatest wines in this country.
“It possesses such important vineyards and an incredible history.
“To be able to build on that tradition and reputation as a pioneer and leader for Australian sparkling and fine wine, is an absolute privilege.”
Seppelt’s roots date to 1851 when Joseph Seppelt established Seppeltsfield in the Barossa Valley.
The Great Western winery was founded in 1865 and became part of Seppelt in 1918.
The site is renowned for its historic underground cellars, known as The Drives, which are the largest underground cellars in Australia and were first excavated by local gold miners in 1868.
The brand is recognised for its significant contribution to the development of Australian sparkling wine.
The Drumborg vineyard, first planted in 1964, also reflects Seppelt’s pioneering approach to cool-climate viticulture and has become known for wines that express the distinctive conditions of south-western Victoria.
The sale is expected to be completed in mid-October.
TWE is consulting directly with impacted team members at Seppelt sites and will support them closely through this change.