Casella Family Brands will continue to operate the Baileys of Glenrowan site

Casella Family Brands will continue to operate the Baileys of Glenrowan site

Treasury Wine Estates has agreed to sell its Baileys of Glenrowan winery assets to Yellow Tail owner Casella Family Brands.

The two companies said today that the deal includes the cellar door, winery, 144ha of vineyards and the Baileys of Glenrowan and Bundarra Farm brands. Financial details were not disclosed. 

TWE will continue to sell the existing bottled wine inventory of Baileys of Glenrowan "within the next two years", Casella said. Casella also confirmed it would continue operating the site and retain all current staff. 

Last year, TWE highlighted Baileys of Glenrowan as one of a number of 'regional gems', as it looked to drive growth of its high-end Australian portfolio.

Today, TWE's MD ANZ Angus McPherson said the deal was mutually beneficial. 

"The sale of this property aligns with TWE's ongoing supply chain optimisation strategy which is focused on creating greater efficiencies across our wine production network," McPherson said. "At the same time, Casella Family Brands wants to expand its regional diversity, so it made sense to accept their offer for Baileys."

The transaction is expected to close on 15 December. 

Why 2017 has been the most dramatic year in living memory for wine - Comment

Expert analysis

Global Wine Market to 2021

Global Wine Market to 2021

The report package Global Wine Market to 2021 offers the most up-to-date industry data on the actual market situation, and future outlook for wines in the world and in the top 10 global more