Treasury to sell some of Australia’s highest-profile wine brands

Wolf Blass, Lindemans and Yellowglen were once among the most powerful wine brands in Australia.

But owner Treasury Wine Estates today announced that all three brands are no longer wanted and will be sold.

The lower-priced wines have no place in Treasury's increasingly premium portfolio, headed by Penfolds and Wynns Coonawarra Estate.

Treasury told the Australian stock exchange that it intends to divest its commercial brand portfolio. That portfolio also includes US brand Blossom Hill.

The compnay said that collectively the four brands represented less than 5% of TWE’s net profits in the recently financial year 2023-2024.

“Following the latest review of the carrying value of the Group’s assets as part of its annual impairment testing process, TWE will recognise a non-cash impairment charge of $354m ($290m post-tax) in its financial result for the year ended 30 June 2024 in relation to the TPB division,” TWE said in its message to the ASX.

TWE has also announced that it will be increasing the price of Penfolds wines globally “by leveraging our unique Penfolds brand status to drive ongoing demand, we remain steadfast on our clear ambition to be the number one luxury wine brand in the market,” said Penfolds CEO Tim Ford.

A 50th birthday wine celebration with kisses from Dannii

An always reliable choice for a cheap treat, much-loved Australian sparkling wine, Yellowglen, is turning 50. 

To mark this milestone, Yellowglen has teamed up with another Aussie icon who is also celebrating 50 years in 2021 – fashion and entertainment personality Dannii Minogue.

As Australia's most popular sparkling wine, Yellowglen has become a regular for birthdays and other celebrations.

To mark the milestone, Yellowglen is releasing a limited-edition 50-year Celebration Brut Cuvée. 

I'm not sure how much Dannii knows about wine, but she says: “Yellowglen is an icon of Australian celebration, a brand that stands for joy and has inspired generations of Australians with its approachable, fun-loving style."

Treasury Wine Estates Marketing and Category Director Ben Culligan says: “Throughout its 50 years, Yellowglen has long been the social butterfly of Australian wine. Its fun-loving approach paired withsparkling expertise is what has made it so popular.”

Yellowglen was founded in 1971 by Ian Home. It wasn't expensive imported Champagne, yet it wasn't cheap and nasty local sparkling."

Yellowglen’s limited edition 50 Years of Celebration Yellow & Pink Brut Cuvée is available nationally now for $12 RRP in liquor retailers.