The 144-year-old McWilliam’s Wines business will be carved up between two privately owned buyers after administrators KPMG sealed a $40 million-plus deal they hope is second time lucky for one of Australia’s oldest wine groups.

New South Wales group Calabria Family Wines will acquire more than 75 per cent of the McWilliam’s Wines operations, with the Hanwood Estate winery and brands near Griffith in NSW going into its stable. The Medich Family Office, which has interests across beef cattle, property development and hotels, has emerged as the buyer of the smaller Mount Pleasant winery and brand in the Hunter Valley region in NSW.