Casella Family Brands is preparing to off-load more than 7200 hectares as they put 35 vineyards up for sale.
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One of the nation's biggest wine exporters made the decision to sell property as they prepare to invest in growing their portfolio of wine brands.
The properties to be sold include farms in the Riverina region, plus Barossa Valley, Clare Valley, Langhorne and Currency Creek and Limestone Coast areas in South Australia.
The properties will be sold through an expression of interest process run by Colliers International's Tim Altschwager.
The sale won't change contractual agreements for the supply of grapes in place.
The property portfolio includes 5650 hectares of vineyards, 1608 of supporting land, plant and equipment and water entitlements.
Casella's managing director John Casella said the sale followed a review of the business as prepared to support future long-term growth.
"The company is in a sound financial position, having recently experienced global record sales for Yellow Tail during the COVID-19 pandemic," Mr Casella said.
"While demand has stabilised, we are forecasting future growth due to ongoing investment in our brands supported by a strategic innovation pipeline.
"The intended strategic partnership will allow us to focus on strengthening our brands globally, and therefore deliver positive outcomes for the Australian wine industry."
First started by Maria and Filippo Casella in 1969, the business has since produced more than one billion bottles of Yellow Trail and includes a host of premium wine brands and an emerging whisky business.
Mr Altschwager said the properties would be sold with a long-term grape supply deal, which created a unique opportunity for the right buyer.
"We expect there will be a lot of interest in the opportunity to acquire quality vineyards in some of Australia's most highly regarded wine regions," Mr Altschwager said.
Casella will still retain a number of Riverina and South Australian vineyards.
Expressions of interest in the properties close on June 8, with bids to be shortlisted on June 10.
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