Treasury Wine Estates has sold its Karadoc winery near Mildura in Northern Victoria to two South Australian businessmen with interests in the wool industry, who will convert it into a storage and logistics hub.

The ASX-listed wine giant announced in July last year that it would shut the five-decade-old commercial winery, which produced brands like Wolf Blass and Yellowglen, as part of a strategy to focus on the more premium and profitable end of the wine market.