The Australian Financial Review yesterday reported that Victoria's Brown Brothers was the likely buyer for the Tamar Ridge Estates.

The holdings include the winery, cellar door and accommodation at Rosevears Estate, the Kayena vineyard and winery and the East Coast Coombend Vineyard.

Tamar Ridge has an estimated value between $30 million and $40 million.

The sale is part of Gunns Ltd's unloading of its non-forestry assets.

The hardware arm of the business has already been sold and the Gunners Arms Hotel in Launceston is on the market, along with the lease for the historic Entally House near Hadspen.

A Gunns spokesman said: "We've previously told the market that we are reviewing all of our non-forestry assets."

Tamar Ridge chief executive officer Andrew Pirie did not return The Examiner's calls yesterday.

Gunns, under former chairman John Gay, bought Tamar Ridge from Josef Chromy for $15 million in 2003 and spent $70 million expanding the business.

The Tasmanian holdings would add to the Brown Brothers' six existing vineyards in north- eastern Victoria.

Brown Brothers was founded in 1889 by John Francis Brown.