BCBG Max Azria to Acquire Herve Leger From Seagram.PARIS--(BUSINESS WIRE)--August 6, 1998--BCBG Max Azria Max Azria is a Jewish American fashion designer who founded the popular midscale women clothing line BCBG in 1989. Originally from Tunisia, Max Azria moved to the United States to enter the fashion world. , the U.S. powerhouse of fashion, and G.H. Mumm & Cie., a subsidiary of The Seagram Company Ltd., today announced that they have reached agreement on the sale of G.H. Mumm's majority shareholding in Herve Leger, the leading French fashion house, to BCBG BCBG Bon Chic Bon Genre Max Azria. Terms of the agreement were not disclosed. The transaction is expected to be completed by the end of September. Commenting on the agreement, Max Azria, Chairman & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , BCBG Max Azria, said, "The synergy between Herve Leger Paris and BCBG Max Azria Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. will be tremendous. I have always admired the excellent work of Herve Leger. The United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. is one of his most important markets and we will be here to ensure that he will be represented as he deserves." Hubert Millet millet, common name for several species of grasses cultivated mainly for cereals in the Eastern Hemisphere and for forage and hay in North America. The principal varieties are the foxtail, pearl, and barnyard millets and the proso millet, called also broomcorn millet , President, Seagram's Martell Mumm Group, stated, "We are delighted that Herve Leger will join BCBG Max Azria. Herve Leger is renowned for creativity and individuality, and enjoys considerable acclaim throughout the fashion world. However, it is not part of Seagram's core businesses - entertainment and spirits and wine. We believe that, within BCBG Max Azria, Herve Leger will continue to innovate in its own inimitable in·im·i·ta·ble adj. Defying imitation; matchless. [Middle English, from Latin inimit style and achieve greater levels of success." The Seagram Company Ltd. operates in two global business segments: beverages and entertainment. The beverage businesses are engaged principally in the production and marketing of distilled spirits, wines, fruit juices, coolers, beers and mixers throughout more than 150 countries and territories. The entertainment company, Universal Studios, Inc., produces and distributes motion picture, television and home video products, and recorded music; and operates theme parks and retail stores. Headquartered in Montreal, Seagram employs 30,000 people worldwide. The Company's corporate website is located at www.seagram.com.
CONTACT: Gabriel Gima or Anne de Plas
BCBG Max Azria G.H. Mumm & Cie.
Tel: 212/704-4722 Tel: 33-1-44-43-15-00
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