Packer group buys stake in Foster’s former wine arm

The James Packer-backed Ellerston Capital investment group has seized a 6.1 per cent stake in Treasury Wine Estates, the former wine arm of Foster’s which owns a portfolio of some of the best wines in the world including the iconic Penfolds, Mildara, Wolf Blass and Lindeman’s. Ellerston Capital issued a statement to the Australian Securities Exchange late last night saying it had lifted its stake in Treasury Wine Estates to 6.1 per cent from 5.03 per cent, reports the Sydney Morning Herald.