Treasury Wine Estates has sold the historic Seppelt winery in western Victoria, marking the first major divestment under new CEO Sam Fischer, who assumed the role in October 2026. This move aligns with Fischer’s broader strategy to streamline the company’s brand portfolio, reducing it from 76 to fewer than 30 labels in response to declining global wine consumption and shifting market dynamics.
The Seppelt winery, with origins dating back more than 160 years, was acquired by Aaron Drummond, CEO and co-owner of Stonier, a respected Mornington Peninsula producer. The sale includes the Seppelt brand, the Great Western winery, cellar door, and vineyards, including the Drumborg vineyard near Portland. Treasury Wine Estates did not disclose the financial terms of the transaction.
Seppelt’s history is deeply rooted in Australian wine heritage. Founded in 1851 by Joseph Seppelt with the establishment of Seppeltsfield in the Barossa Valley, the Great Western site was founded in 1865 and later integrated into the Seppelt portfolio in 1918. The winery is notable for its extensive underground cellars, known as The Drives, carved in 1868 by local gold miners and considered the largest of their kind in Australia. Seppelt is also credited as a pioneer of Australian sparkling wine production.
The winery’s legacy includes cultural anecdotes such as opera singer Dame Nellie Melba reportedly bathing in Seppelt’s imperial reserve champagne, and American author Mark Twain visiting the Great Western site in the late 1890s, where he praised its winemaking.
Under Fischer’s leadership, Treasury Wine Estates aims to focus on its flagship brands— including Penfolds, Matua, Coldstream Hills, Squealing Pig, and Wynns—concentrating capital and management resources on labels with the strongest growth and market relevance. Fischer, who has a 30-year background in brewing, spirits, and luxury brands, has emphasized portfolio simplification as a key to future success.
Angus Lilley, managing director for Australia, New Zealand, and Europe at Treasury Wine Estates, highlighted the significance of keeping Seppelt within Victorian ownership, stating it brings together two regional businesses with a shared commitment to quality winemaking and heritage.
Aaron Drummond expressed enthusiasm about acquiring Seppelt, noting its important vineyards, rich history, and status as Australia’s original producer of sparkling wine. Despite challenges facing the wine industry, including a global downturn in consumption, Drummond emphasized ongoing growth opportunities in premium wines, particularly Australian cool-climate and sparkling varieties. He sees the acquisition as an opportunity to revitalize the Seppelt brand and build upon its established reputation.
The sale of Seppelt comes amid a broader trend of winery transactions in Australia, with other notable sales underway, including wineries owned by the Endeavour Group, which is also refocusing its assets under new CEO Jayne Hrdlicka.