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allbusiness.com not a reliable source. seagrams is co-owned by Diageo / Don Julio and Pernod Ricard / Jameson |
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{{more citations needed|date=January 2013}}
{{Infobox company
| name
| logo
| trade_name
| type =
| industry = [[Drink industry|Beverages]]▼
| traded_as = {{TSX was|VO}}<ref>{{cite web|url=http://www.seagram.com/company_info/index.html|archive-url=https://web.archive.org/web/20000303100245/http://www.seagram.com/company_info/index.html|url-status=dead|archive-date=2000-03-03|title=Seagram shareholders website}}</ref><br>{{NYSE was|VO}}
| fate = Seagram's core business was broken up and acquired by Pernod Ricard, Infinium Spirits and Diageo; entertainment assets sold to Vivendi;▼
| successors = [[Vivendi]]<br>[[Pernod Ricard]]<br>Infinium Spirits<br>[[Diageo]]<br>[[Universal Studios]]<br>[[Universal Music Group]]<br>[[NBCUniversal]]<br>[[Comcast]]▼
▲| fate
| foundation = {{Start date and age|1857}}, in [[Waterloo, Ontario]], [[Canada]]▼
▲| successors
| defunct = {{End date and age|2000}}▼
| location_city = [[Montreal]], [[Quebec]]▼
| location_country = Canada▼
| locations = [[Burlington, Ontario|Burlington]]<br>[[Oakville, Ontario|Oakville]]<br>[[Oshawa]]<br>[[Brampton]]<br>[[Saskatoon]]<br>[[Edmonton]]<br>[[Burnaby]]<br>[[Waterloo, Ontario|Waterloo]]▼
| key_people = [[Joseph E. Seagram]]<br>[[Bronfman family]]▼
▲| locations
| products = [[Alcoholic beverage]]s, [[Ginger ale]], [[Tonic water]], [[Club soda]]▼
| website = [https://web.archive.org/web/20111011084729/http://www.seagram.com/ seagram.com (archived)]▼
▲| website
}}
'''The Seagram Company Ltd.''' (which [[trade name|traded]] as '''Seagram's''') was a Canadian multinational [[Conglomerate (company)|conglomerate]] formerly headquartered in [[Montreal]], [[Quebec]]. Originally a [[Distilled beverage|distiller]] of [[Canadian whisky]] based in [[Waterloo, Ontario]], it was
Toward the end of its independent existence, it also controlled various entertainment and other business ventures. Its purchase of [[MCA Inc.]], whose assets included [[Universal Studios]] and its [[theme park]]s, was financed through the sale of Seagram's 25% holding of chemical company [[DuPont]], a position it acquired in 1981.
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In 1857, Waterloo Distillery was founded in [[Waterloo, Ontario|Waterloo]], [[Ontario]], [[Canada]]. [[Joseph E. Seagram]] became a partner with [[George Randall (mayor)|George Randall]], William Roos and [[William Hespeler]] in 1869 and sole owner in 1883, and the company became known as Joseph E. Seagram & Sons. Many decades later, in 1924, [[Samuel Bronfman]] and his brothers founded Distillers Corporation Limited, in Montreal, which enjoyed substantial growth in the 1920s, in part due to [[Prohibition in the United States]] (the Distillers Corporation Limited name was derived from a [[United Kingdom]] company called [[Distillers Company]] Limited, which controlled the leading brands of whisky in the UK, and which was doing business with the Bronfmans).
In 1923, the Bronfmans purchased the
In 1928, a few years after the death of Joseph E. Seagram
Although he was never convicted of criminal activity, Samuel Bronfman's dealings with bootleggers during the Prohibition-era in the United States have been researched by various historians and are documented in various peer-
In the 1930s, when Seagram
[[Image:Seagram Distillery Buildings.JPG|thumb|250px|Original Seagram Distillery buildings in Waterloo, now converted to residential condominiums, Seagram Lofts, at 5 Father David Bauer Drive]]
After the death of Samuel Bronfman in 1971, [[Edgar Bronfman Sr.|Edgar M. Bronfman]] was named chairman and chief executive officer (CEO) until June 1994 when his son, [[Edgar Bronfman Jr.]], was appointed CEO.<ref>Edgar M. Bronfman, ''Good Spirits: The Making of a Businessman'' (1998) {{ISBN|0399143742}}.</ref>▼
From the 1950s, most of Distillers-Seagram was owned by the four children of Samuel Bronfman, through their holding company [[Cemp Investments]]. The three most
In 1963, Seagram purchased the Texas Pacific Coal and Oil Company for $61 million in cash and a $216 million production payment sale to Glanville Minerals Corporation of New York. Texas Pacific Coal and Oil Company was merged Frankfort Oil Company, another oil-producing company owned by Seagram. The new firm was named Texas Pacific Oil Company.<ref>
In 1978 Seagram's took over the [[Stonyfell, South Australia|Stonyfell]] winery in the eastern foothills of [[Adelaide]] from [[Dalgety plc|Dalgety Australia]], around which time the winemaking part of the business at Stonyfell was wound up.<ref>{{Cite book |last1=Warburton|first1=Elizabeth |author2=Burnside (S.A.). Corporation |title=The paddocks beneath: a history of Burnside from the beginning |date=1981 |publisher=Corporation of the City of Burnside |isbn=978-0-9593876-0-5}}</ref>▼
{{cite web
| title = Paydirt and the Man from Spotsylvania (Part 3): Oil
| url = https://hometownbyhandlebar.com/?p=27529
| date = May 13, 2019
| work = Hometown by Handlebar
| accessdate = November 9, 2023}}
</ref> In 1980, the Bronfman heirs sold the Texas Pacific Oil holdings to [[Sun Oil Co.]] for $2.3 billion.<ref name="life">Michael R. Marrus (1991). ''Samuel Bronfman - The Life and Times of Seagram’s Mr. Sam''. Brandeis University Press of New England. {{ISBN|0-87451-571-8}}; pages 372-373.</ref>
▲After the death of Samuel Bronfman in 1971, [[Edgar Bronfman Sr.
In 1981, cash-rich and wanting to diversify, the U.S.-based subsidiary Seagram Company Ltd. engineered a takeover of [[Conoco|Conoco Inc.]], a major American oil and gas producing company. Although Seagram acquired a 32.2% stake in Conoco, DuPont was brought in as a [[White knight (business)|white knight]] by the oil company and entered the bidding war. In the end, Seagram lost out in the Conoco bidding war, though in exchange for its stake in Conoco it became a 24.3% owner of DuPont. By 1995, Seagram was DuPont's largest single shareholder with four seats on its board.▼
In 1978, Seagram's took over the [[Stonyfell, South Australia|Stonyfell]] winery in the
In 1986, the company started a memorable TV commercial campaign advertising its Golden [[wine cooler]] products. With rising star [[Bruce Willis]] as pitchman, Seagram rose from fifth place among distillers to first in just two years.<ref>Interview with Bruce Willis, p. 65, ''Playboy'', November 1988.</ref>▼
▲
During the early 1980s, Seagram's attempted to acquire [[St. Joe Minerals]]. However, it was outbid by [[Fluor Corporation]].{{Citation needed|date=September 2023}}
▲In 1981, cash-rich and wanting to diversify, the U.S.-based subsidiary Seagram Company Ltd.
▲In 1986, the company started a
[[File:Seagram's Escapes Mickey Beverage Bodies.jpg|thumb|Truck advertising the Seagram's Escapes brand of [[alcopop|ready-to-drink]] [[alcoholic beverages]]]]
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In 1987, Seagram engineered{{clarify|date=March 2022}} a $1.2 billion takeover of French cognac maker [[Martell (cognac)|Martell & Cie]].
In 1995, Edgar Bronfman Jr. was eager to
Later in 1998, Seagram purchased [[PolyGram]] and [[Deutsche Grammophon]] and scattered the assets within Universal Studios, notably Universal Music Group.<ref>{{Cite news |last=Shapiro |first=Eben |date=1998-05-11 |title=Seagram Nears PolyGram Purchase After Talks With EMI Fall Apart |language=en-US |work=[[The Wall Street Journal]] |url=https://www.wsj.com/articles/SB894849159710492500 |access-date=2024-01-01 |issn=0099-9660}}</ref><ref>{{Cite news |last=Philips |first=Chuck |last2=Eller |first2=Claudia |date=1998-05-22 |title=Seagram Uncorks $10.6-Billion Deal to Buy PolyGram |work=[[Los Angeles Times]] |url=https://www.latimes.com/archives/la-xpm-1998-may-22-mn-52474-story.html |access-date=2024-01-01}}</ref><ref>{{Cite web |title=Seagrams completes PolyGram acquisition - Dec. 10, 1998 |url=https://money.cnn.com/1998/12/10/companies/seagram/ |access-date=2024-01-01 |website=[[CNN Business|CNN Money]]}}</ref>
The same year, Seagram sold to [[PepsiCo]] its juice business [[Tropicana Products]] that it acquired in 1988 for $3.1 billion.
In 2000, Seagram's entertainment division was sold to [[Vivendi]], and, after Vivendi had acquired French media giant [[Groupe Canal+]], it became part of the new company, Vivendi Universal, on 11 December 2000.<ref name=oldhist>{{cite web | title=L'histoire du Groupe CANAL+ de 1983 à nos jours | website=Canal+ | date=1 January 2012 | url=http://www.canalplusgroup.com/pid163.htm#anch_29 | archive-url=https://web.archive.org/web/20120205011344/http://www.canalplusgroup.com/pid163.htm#anch_29 | archive-date=5 February 2012 | url-status=dead}}</ref>
In 2002, [[The Coca-Cola Company]] acquired the line of Seagram's mixers (ginger ale, tonic water, club soda and seltzer water) from Pernod Ricard and Diageo, as well as signing a long-term agreement to use the Seagram name from Pernod Ricard for these lines.<ref>{{Cite news |last= |first= |date=2002-05-08 |title=COMPANY NEWS; COKE ACQUIRES SEAGRAM'S LINE OF MIXER DRINKS |language=en-US |work=[[The New York Times]] |url=https://www.nytimes.com/2002/05/08/business/company-news-coke-acquires-seagram-s-line-of-mixer-drinks.html |url-access=subscription |access-date=2024-01-01 |issn=0362-4331}}</ref>
▲In 2000, Edgar Bronfman Jr. sold controlling interest in Seagram's entertainment division to [[Vivendi]], and the beverage division to [[Pernod Ricard]] and [[Diageo]]. By the time Vivendi began auctioning off Seagram's beverages business, the once-renowned operation consisted of around 250 drink brands and brand extensions in addition to its original high-profile brand names.
On April 19, 2006, Pernod Ricard announced that they would be closing the former Seagram distillery in [[Lawrenceburg, Indiana]].
In a 2013 interview with ''[[The Globe and Mail]]'', [[Charles Bronfman]] (uncle of Edgar Jr.) stated about the decisions leading to the demise of Seagram: "It was a disaster, it is a disaster, it will be a disaster. It was a family tragedy."<ref>{{cite news|url=https://www.theglobeandmail.com/report-on-business/careers/careers-leadership/charles-bronfman-opens-up-about-seagrams-demise-it-is-a-disaster/article10816816/|title=Charles Bronfman opens up about Seagram's demise: 'It is a disaster'|last=Slater|first=Joanna|newspaper=[[The Globe and Mail]]|date=April 5, 2013|access-date=2013-04-08}}</ref>
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== Legacy ==
[[File:NewYorkSeagram 04.30.2008.JPG|thumb|The [[Seagram Building]] in New York]]
The Seagram name survives today in various well-known drinks. [[Seagram's Seven Crown]], used to make the American cocktail, [[7 and 7]], is produced by [[Diageo]], while Seagram's V.O. is produced by [[Sazerac Company|Sazerac]].<ref name=":0" /> Several brands of coolers are produced under the Seagram name as of 2022: Seagram's Escapes are produced by [[Genesee Brewing Company|Genesee Brewing]] for the American market, while Seagram Island Time is produced by [[Waterloo Brewing Company|Waterloo Brewing]] for the Canadian market.<ref>{{Cite web|last=Cleveland|first=Will|title=Genesee Brewery manager: 'Seagram's Escapes is now our number one brand'|url=https://www.democratandchronicle.com/story/news/2021/03/19/genesee-brewery-parent-company-increase-seagrams-escapes-production/4748516001/|access-date=2022-02-03|website=[[Democrat and Chronicle]]|language=en-US}}</ref><ref>{{Cite web|last=|first=|title=Waterloo Brewing launches Seagram Island Time Coconut Lime Cocktail|url=https://www.newswire.ca/news-releases/taste-the-tropics-waterloo-brewing-launches-seagram-island-time-coconut-lime-cocktail-841596302.html|access-date=2022-02-03|website=www.newswire.ca|language=en}}</ref> The Coca-Cola Company currently produces Seagram's Ginger Ale soda line since 2002 & made it widely available in 2011.<ref>{{Cite web |date=2011-02-28 |title=Coca-Cola Launches That Special Seagram's Sparkle Across the U.S. |url=https://investors.coca-colacompany.com/news-events/press-releases/detail/88/coca-cola-launches-that-special-seagrams-sparkle-across |access-date=2024-01-02 |website=The Coca-Cola Company |language=en}}</ref>
Seagram's House, the former company headquarters in Montreal, was donated to [[McGill University]] by [[Vivendi Universal]] in 2002, then renamed [[Martlet House]].<ref>{{cite news|last=Desjardins|first=Sylvain-Jacques|date=2004-04-25|title=Seagram Building reborn as Martlet House|work=McGill Reporter|url=https://www.mcgill.ca/reporter/36/13/martlethouse/|access-date=2009-02-07}}</ref> The landmarked [[Seagram Building]], once the company's American headquarters in [[New York City]], was commissioned by [[Phyllis Lambert]], daughter of Seagram CEO [[Samuel Bronfman]], and designed by architect [[Ludwig Mies van der Rohe]] with [[Philip Johnson]]. Regarded as one of the most notable examples of the [[Functionalism (architecture)|functionalist]] aesthetic and a prominent instance of corporate [[modern architecture]], it set the trend for the city's skyline for decades to follow, and has been featured in several Hollywood films. On completion in 1958, its costs made it the world's most expensive skyscraper.<ref name="NYT1">{{Cite news |url=https://www.nytimes.com/2000/10/12/nyregion/on-park-avenue-another-trophy-changes-hands.html|title = On Park Avenue, Another Trophy Changes Hands |newspaper=The New York Times |date=12 October 2000 |last1=Bagli |first1=Charles V.}}</ref> The Bronfman family sold the Seagram building to [[TIAA]] for $70.5 million in 1979.<ref name="NYT2">{{Cite news |url=https://www.nytimes.com/1988/04/21/nyregion/seagram-landmark-move-is-backed.html |title=Seagram Landmark Move is Backed |newspaper=The New York Times |date=21 April 1988 |last1=Dunlap |first1=David W.}}</ref>
The [[Seagram Museum]], formerly the original Seagram distillery in [[Waterloo, Ontario]], was forced to close due to lack of funds in 1997. The building is now the home of the [[Centre for International Governance Innovation]] as well as [[Shopify]]. The two original barrel houses are now the Seagram Lofts condominiums. There were almost {{convert|5|acre|ha}} of open land, upon which the [[Balsillie School of International Affairs]] was subsequently built; construction began in 2009, and was completed in 2010.<ref>[http://cigicampus.cigionline.org/tag/bsia/ "Construction continues on the Balsillie Campus"], July 2, 2010.</ref><ref name="Balsillie school article">{{cite news|last=Mercer|first=Greg|date=January 8, 2009|title=New Balsillie School will be 'functional, not fancy'|newspaper=[[Kitchener Record]]|url=https://pqasb.pqarchiver.com/therecord/access/1623151031.html?FMT=ABS&FMTS=ABS:FT&type=current&date=Jan+8,+2009&author=Greg+Mercer&pub=Waterloo+Region+Record&edition=&startpage=B.1&desc=New+Balsillie+school+will+be+
== See also ==
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[[Category:Distilleries in Canada]]
[[Category:Canadian brands]]
[[Category:Coca-Cola brands]]
[[Category:Defunct manufacturing companies of Canada]]
[[Category:Defunct mass media companies of Canada]]
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[[Category:Former Vivendi subsidiaries]]
[[Category:Canadian companies established in 1857]]
[[Category:Companies formerly listed on the Toronto Stock Exchange]]
[[Category:Companies formerly listed on the New York Stock Exchange]]
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