James Packer pours $123m into wine brands

Billionaire James Packer has secured a 5 per cent stake in the company that owns South Australian wine brands Penfolds, Wolf Blass and Wynns. It has been revealed that the Packer family’s investment fund Ellerston Capital already held a 4.6 per cent stake in Treasury Wine Estates, which split from brewer Foster’s Group in May last year. Yesterday it reported to the market that it had invested another $123 million, lifting its stake to 5 per cent, reports News.com.au.