On Thursday, Seagram announced it was no longer in exclusive negotiations with Societe Financiere des Vins de Champagne, jointly owned by the French insurance giant AXA and Groupe Frey, which owns the Germain and Binet Champagne brands.
Negotiations between SFVC and Seagram began in late October, but ran into stumbling blocks regarding vineyard acquisition among other things. "Both sides gave it a pretty good shot, but they both agreed it wasn't quite what they wanted," said Seagram spokesman Paul Wagner. SFVC is still in the running to buy the two Champagne houses, but Seagram is considering offers from at least two other potential buyers, according to Wagner. However, he declined to identify the two new suitors.
Seagram wants to retain global distribution rights for both Mumm and Perrier-Jouet in any eventual deal. About 100,000 cases of each are sold annually in the United States.
Sips & Tips | Wine & Healthy Living
Video Theater | Collecting & Auctions