Business
26 September, 2026
Cheers! It’s a deal for Seppelt
ONE of Great Western’s most important institutions is changing hands, with Treasury Wine Estates reaching an agreement to sell Seppelt to Victorian wine industry figure Aaron Drummond and partners. The deal will see the historic Seppelt brand, Great Western winery, cellar door and vineyards leave the Treasury Wine Estates portfolio and remain under Victorian ownership.
The Drumborg vineyard near Portland is also included in the sale, which is expected to be completed in mid-October.
The announcement confirms reporting by the Stawell Times-News in July that parties associated with Mr Drummond’s Mornington Peninsula winery Stonier were involved in the sale process.
Mr Drummond is chief executive and co-owner of Stonier and is also involved with Halls Gap-based wine business Fallen Giants.
When approached by the Times-News in July, Mr Drummond said he was “not in a position to comment” on the Seppelt sale process.
Two months later, Treasury Wine Estates has confirmed Mr Drummond and his partners will acquire one of the oldest and most significant names in Australian wine.
Mr Drummond described the acquisition as a privilege.
“Seppelt has produced some of the greatest wines in this country,” he said.
“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.”
The agreement brings greater certainty to the future ownership of a winery which has been part of Great Western for more than a century and whose history stretches back to the gold rush era.
The Great Western winery was founded in 1865 and became part of Seppelt in 1918.
Its famous underground cellars, The Drives, were first excavated by local gold miners in 1868 and are regarded as the largest underground cellars in Australia.
The site and Seppelt brand have also played an important role in the development of Australia’s sparkling wine industry.
Treasury Wine Estates confirmed earlier this year that it was exploring the sale of Seppelt as part of a major restructuring of its global wine portfolio.
The company planned to reduce the number of brands it owned and concentrate investment on a smaller group of priority labels.
That announcement placed the future ownership of the Great Western winery and vineyards in doubt and attracted considerable interest locally because of the site’s importance to the town’s wine industry, history and tourism economy.
Great Western Enterprises had sought to acquire the Seppelt assets, but chief executive Bruce Ahchow told the Times-News in July his company had been unable to enter the sale process and believed Treasury had progressed with another party.
Later that month, the Times-News reported that several independent sources had identified parties associated with Stonier and Fallen Giants as being involved.
At the time, neither Treasury Wine Estates nor Mr Drummond would confirm the involvement.
Treasury Wine Estates managing director for Australia, New Zealand and Europe Angus Lilley said the agreement was a positive outcome for Seppelt.
“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,” he 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.”
Treasury said it was consulting directly with impacted team members at Seppelt sites and would support them through the change.
The sale is expected to be completed in mid-October.
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