:"For the rapper Seagram, see
Seagram Miller"Infobox Defunct Company
company_name = Seagram Company Ltd.
fate = Broken-up, assets sold
Vivendi, Pernod Ricard
foundation = 1857
defunct = 2000
Joseph E. Seagram, Bronfman family
parent = Private (1857-1972);
Warner Communications(1972-1979); Thorn EMI(1979-1988); Pearson PLC(1988-2000); Vivendi Universal(2000)
PolyGram Music Corporation of America Atari Philips
The Seagram Company Ltd. was a large
corporationheadquartered in Montreal, Quebec, Canadathat was the largest distiller of alcoholic beverages in the world. Toward the end of its independent existence it also controlled various entertainment and other business ventures. The Seagram assets have since been acquired by other companies, notably PepsiCo, Diageo, and Pernod Ricard.
Seagram Building, the company's American headquarters office tower at 375 Park Avenue in New York City, was designed by architect Ludwig Mies van der Rohewith Philip Johnson. The former Seagram headquarters in Montreal now belongs to McGill University, under the name "Martlet House".
In 1857, a distillery was founded in Waterloo,
Ontario. Joseph E. Seagrambecame a partner in 1869 and sole owner in 1883, and the company became known as Joseph E. Seagram & Sons. Many decades later, Samuel Bronfmanfounded Distillers Corporation Limited, in Montreal, which enjoyed substantial growth in the 1920s, in part due to Prohibitionin the United States.
In 1928, a few years after the death of Joseph E. Seagram (1919), the Distillers Corporation acquired Joseph E. Seagram & Sons, and took over the Seagram name. The company was well prepared for the end of Prohibition in 1933 with an ample stock of aged whiskeys ready to sell to the newly opened American market, and it prospered accordingly. Thus despite its earlier Waterloo history, the Seagram name is most closely associated with the Bronfman family. However, it is not correct to say, as is often done, that Samuel Bronfman founded Seagram, since the Seagram name itself pre-dated the company he founded.
After the death of Samuel Bronfman in 1971,
Edgar M. Bronfmanwas Chairman and Chief Executive Officer (CEO) until June 1994 when his son, Edgar Bronfman, Jr., was appointed CEO.
In 1981, cash rich and wanting to diversify, Seagram Company Ltd. engineered a takeover of
Conoco Inc., a major American oil and gas producing company. Although Seagram acquired a 32.2% stake in Conoco, DuPontwas brought in as a white knight by the oil company and entered the bidding war. In the end, Seagram lost out in the Conoco bidding war. But in exchange for its stake in Conoco Inc, it became a 24.3% owner of DuPont. By 1995 Seagram was DuPont's largest single shareholder with four seats on the board of directors.
In 1986, the company started a memorable TV commercial campaign advertising its Golden Wine Cooler products. With rising star
Bruce Willisas pitchman, Seagram rose from fifth place among distillers to first in just two years.
In 1987, Seagrams engineered a $1.2 billion takeover of important French cognac maker
Martell & Cie.
On April 6, 1995, after being approached by Edgar Bronfman, Jr., DuPont announced a deal whereby the company would buy back its shares from the Seagram company for the amount of $9 billion. Seagram's was heavily criticized by the investment community—the 24.3% stake in DuPont accounted for 70% of Seagram's earnings.
Standard & Poortook the unusual step of stating that the sale of the DuPont interest could result in a downgrade of Seagram's more than $4.2 billion of long-term debt.
The rationale for this divestiture was that Edgar Bronfman, Jr., grandson of Samuel Bronfman, wanted Seagram to branch out into the entertainment business. Bronfman, Jr., used the proceeds of the sale to help acquire
Universal Studios, MCA, PolyGram, and Deutsche Grammophon. Seagram also gained control of a number of Universal theme parks.
In 1997, the
Seagram Museum, formerly the original Seagram distillery in Waterloo, was forced to close due to lack of funds. The building is now the home of the Centre for International Governance Innovation. The two original barrel houses are now the Seagrams Lofts condominiums. There are also almost five acres of land for future development.
In 2000, controlling interest in Seagram's entertainment division was acquired by the Vivendi Group, and the beverage division by
Pernod Ricard. By the time Vivendi auctioned off Seagram's drink business, beyond its original high-profile brand names the once renowned operation consisted of around two hundred and fifty drinks brands and brand extensions.
The Coca-Cola Companyacquired the line of Seagram's mixers (ginger ale, tonic water, club soda and seltzer water) from Pernod Ricardand Diageo, as well as signing a long term agreement to use the Seagram's name from Pernod Ricard.
On April 19, 2006, Pernod Ricard announced that they would be closing the Seagram Lawrenceburg Distillery located in
brand names owned by Seagram included Crown Royal, and VO whiskeys, Captain Morgan rumand Tropicana fruit juice, today owned by Diageo PLC and Pepsico, Inc., respectively. The Seagram brand name lives on in Pernod products such as Chivas Regal"Seagram's Gin" and "Seagram's Coolers," as well as in the Diageo product Seagram's Seven Crownand in The Coca-Cola Company's Seagram's mixers line. The Seagram's Seven Crown line of whiskey has been popularized in American culture through the Seven and Seven drink cocktail.
Dimebag Darrell invented a cocktail, known as the "Black Tooth Grin", named after a lyric in the Megadeth song "Sweating Bullets". The drink consists of one shot of "Seagrams 7" and "Crown royal" whiskey, with a splash of just enough Coca-Cola to darken the whiskey's color
Snoop Dogg notes drinking "Seagram's Gin" in the hit single "
Gin and Juice". He laments everyone else having a cup but not chipping in.
Petey Pablo pays tribute to Seagram's gin in his 2004 hit song "Freek A Leek". He says "I have to give a shout-out to Seagram's Gin, cause I drink it, and they payin' me for it".
In 1996 Seagram commissioned
South Parkcreators Trey Parkerand Matt Stoneto create a short comedy film called Your Studio and Youwhich was to be featured at a party celebrating the acquisition Universal Studiosand its parent company MCA Corporation. The movie featured a bevy of celebrity appearances which includes Andrew Bergman, James Cameron(shown improving the Universal Studios landscaping), Shaun Cassidy, Robin Cook, Shelley Fabares, Michael J. Fox(sometimes mistaken in the film for Dian Bachar, a longtime Parker-Stone collaborator), Brian Grazer, Heavy D, Jeffrey Katzenberg, Barry Kemp, Angela Lansbury(shown painting the "Psycho" House), Mike Lobel, Traci Lords, Kevin Misher, Demi Moore, Darrin Pfeiffer, John Singleton, Steven Spielberg(shown as a Universal Studios Guide), Sylvester Stallone(in his Rocky Balboa character, and subtitled for comedic effect), Marty Stuart, David Zucker, and Jerry Zucker. [ [http://video.google.com/videoplay?docid=-6493841613076981287 Your Studio and you] (From Google Video)]
Wikimedia Foundation. 2010.
Look at other dictionaries:
Seagram — était une entreprise canadienne des médias et de vins et spiritueux aujourd hui disparue. Son siège était à Montréal au Québec et elle fut la plus grande entreprise de distillation au monde. Histoire En 1857, une distillerie est fondée à Waterloo … Wikipédia en Français
Seagram — Building Seagram (vollständiger Name Seagram Company Ltd.) war ein großer in Montréal (Kanada) ansässiger Mischkonzern. Das Unternehmen war seinerzeit der weltweit größte Spirituosenhersteller und expandierte gegen Ende seines Bestehens in die… … Deutsch Wikipedia
Seagram — Company Ltd. Fundación 1857 Desaparición 2000 Sede Montreal, Quebec Industria … Wikipedia Español
Seagram Company — Seagram (vollständiger Name Seagram Company Ltd.) war ein großer in Montréal (Kanada) ansässiger Mischkonzern. Das Unternehmen war seinerzeit der weltweit größte Spirituosenhersteller und expandierte gegen Ende seines Bestehens in die Branchen… … Deutsch Wikipedia
Seagram Stables — was a Canadian Thoroughbred horse racing operation founded in 1888 by the wealthy distiller, Joseph E. Seagram. Located in Seagram s hometown of Waterloo, Ontario, the stables and large training facilities were built along Lincoln Road.Joseph E.… … Wikipedia
Seagram Building — Localisation Localisation Midtown, Manhattan, New York Coordonnées … Wikipédia en Français
Seagram Building — Das … Deutsch Wikipedia
Seagram's 7 and 7-UP — is a mixed alcoholic drink containing Seagram s Seven Crown Blended Whiskey and 7 UP. It is a specific example of the popular whiskey sour (generic whiskey and lemon lime soda) and is commonly referred to as a 7 and 7. Although proportions will… … Wikipedia
Seagram's vodka — Seagram’s Vodka is the result of a unique five column distillation process that utilizes American grain and mineral rich water harvested from its distillery in Lawrenceburg, Indiana … Wikipedia
Seagram Building — Infobox Skyscraper building name = Seagram Building built = 1957 use = Office location = 375 Park Avenue, New York, New York, NY roof = 515 ft (157 m) top floor = antenna spire = floor count = 38 floor area = elevator count = architect = Ludwig… … Wikipedia