Treasury Wine Estates sells Rosemount back to Oatley family

• Treasury Wine Estates has sold the Rosemount, Ingoldby, and Secret Stone wine brands back to the Oatley family.
• Financial terms were not disclosed, but the sale includes the three brands and associated inventory ahead of an expected Oct. 23 completion date.
• The transaction continues Treasury Wine’s strategy to streamline its portfolio and focus resources on priority growth markets.

Treasury Wine Estates (ASX:TWE) has agreed to sell its Rosemount, Ingoldby, and Secret Stone wine brands back to the Oatley family to streamline its brand portfolio.

The deal marks a full-circle transaction for the business, coming 25 years after its forerunner acquired Rosemount from the Oatley family for $1.5 billion in 2001.

"Since we announced our transformation agenda last year, we’ve sold five brands and a range of non-priority assets as we focus our investment and resources to grow in key markets," said Treasury Wine Estates Managing Director Australia, New Zealand and Europe Angus Lilley.

Under the agreement, Treasury Wine stated that it will retain royalty-free rights to sell Rosemount in Europe for up to three years without changing immediate customer ordering arrangements.

Treasury Wine expects to complete the sale on Oct. 23.

Following the announcement, the Treasury Wine Estates share price was unchanged at $5.61.

The company has systematically divested non-core labels over the past year to redirect capital towards its premium and luxury wine offerings globally.