One of Australia's oldest and most celebrated wine labels, Seppelt Wines, has been acquired by family-owned Mornington Peninsula business Stonier Wines, marking the end of its time under the ownership of publicly listed wine giant Treasury Wine Estates. The sale — the financial terms of which have not been disclosed — is expected to be finalised in mid-October, and includes Seppelt's vineyards and winery at Great Western in western Victoria, as well as its Drumborg vineyard near Portland in the state's south-west.

First Brand Off the Block in Treasury's Major Portfolio Cull

The deal is the first to emerge from Treasury Wine Estates' sweeping plan to reduce its stable of labels from 76 wine brands down to fewer than 30, a cost-cutting move announced earlier this year. Treasury acquired Seppelt in 2011 as part of its purchase of Foster's Group's entire wine division, and the historic label has now returned to private, Victorian hands.

Treasury's managing director for Australia, New Zealand and Europe described the sale as a positive outcome for those who know the brand. "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, adding that it was encouraging to see the brand remain in Victorian hands.

Stonier Plans to Wake a Dormant Winery Back to Life

Stonier Wines, one of the pioneering estates on the Mornington Peninsula, returned to local family ownership in 2022. Chief executive and co-owner Aaron Drummond said his personal connection to the Great Western wine region — forged during years working at the nearby Mount Langi Ghiran winery — made the opportunity immediately compelling.

"It was incredibly exciting to see the potential of the region," Drummond said.

The Great Western winery has been largely dormant since 2014. At its peak, the facility was processing around 8,000 tonnes of grapes per year; it is currently crushing nothing. Stonier intends to change that, with Drummond outlining plans to run several thousand tonnes through the facility once operations resume.

"The winery facility is a considerable facility that was processing about 8,000 tonnes a year but is currently crushing nothing," he said. "Our hope is to put a couple of thousand tonnes through that facility."

Heritage Underground Cellars to Be Pressed Back Into Service

Among the most distinctive assets in the deal are Seppelt's famous heritage-listed underground cellars — known as "The Drives" — which form the largest underground cellaring system in Australia, spanning three kilometres. In recent years the cellars have functioned primarily as a tourist attraction, but Stonier intends to restore their original purpose.

"We want to get them working again," Drummond said. "They're the most phenomenal natural cooling environment, so it makes sense to us, and so we'll store all our top sparkling wines in them."

The Seppelt brand itself has roots stretching back to 1851, when the Seppelt family launched the label in South Australia. In 1918, the family expanded by acquiring Hans Irvine's vineyards at Great Western, cementing the site's place in Australian wine history.

A Bet on the Future Amid a Tough Industry Cycle

The acquisition comes during what many in the industry consider one of its most challenging periods in decades, with global demand softening, historic oversupply weighing on prices, and margins under pressure across the board. Drummond acknowledged those headwinds but said he remained broadly optimistic about where the industry is headed.

For Victorian businesses and regional communities, the revival of a dormant production facility of this scale carries real economic weight — particularly in a regional town like Great Western, where the Seppelt sign on the Western Highway has long been a local landmark. With Stonier now at the helm, one of Australia's most storied wineries appears poised for a genuine second act.