One of Victoria's premier thoroughbred breeding operations, Yallambee Stud has been sold to Kentucky-based Spendthrift Farm for an undisclosed sum.

Spendthrift has ramped up its interests in Australia's thoroughbred industry in recent years and has been an active buyer at this week's Australian Easter Yearling Sale in Sydney.

"Joining the Australian Thoroughbred community with its great horsemen and long-standing traditions is one of the most exciting things we've ever done here at Spendthrift," said owner B. Wayne Hughes who has had control of the Farm since 2004.

"Spendthrift has always taken a real partnership approach with our breeders in the United States and will look to do the same thing in Australia."

Garry Cuddy, who has worked with Vin Cox Bloodstock, has been appointed to head up Spendthrift Australia.

"We have plans to stand stallions in 2015 at the former Yallambee Stud and will announce our roster in the near future," Cuddy said.

Spendthrift Farm has a long and proud tradition in the US where it stands 26 stallions.

Three generations of the Woodard family have operated Yallambee Stud for 50 years and Rick and Christie Woodard have agreed to stay on and manage the farm.

Spendthrift's Easter purchases have included a More Than Ready filly and a Northern Meteor colt on the first day of the sale and another two colts by More Than Ready and Redoute's Choice on day two.