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, [...]
Australian group Treasury Wine Estates will sell the wine brand Seppelt along with selected assets in the state of Victoria. The transaction is part of a plan to simplify the portfolio, which is to be reduced from 76 marks to less than 30. Financial details of the sale have not been disclosed.