Under the terms, The Wine Group will source and sell the Beringer Main & Vine, Beringer Founders’ Estate, Coastal Estates and Meridian brands in the Americas.
Today’s announcement will generate cash proceeds of approximately $100 million.
One off-costs associated with this transaction were recognised as material items in the 1H21 results.
Shares in Treasury Wine Estates (ASX:TWE) are trading 4.23 per cent higher at $11.57.