The prestigious champagne houses of Mumm and Perrier-Jouët have been sold to Allied Domecq less than 18 months after they had been offloaded by Seagram. In July 1999 the investment firm Hicks, Muse, Tate & Furst bought the brands for £176.8m. This week it sold them for £346m. The buys have filled one of the few remaining gaps in the Allied Domecq portfolio. Its lack of a decent vodka brand in the US was resolved recently with the acquisition of exclusive US distribution rights for the Russian vodka Stolichnaya. It has also done a deal with the Puerto Rican producer Destileria Seralles to acquire the trademark and distribution rights of Captain Morgan. This gives it a world class rum brand. Its own Lamb's Navy rum is not considered to be in the same league. Mumm is the third largest champagne house in the world and is best known for Cordon Rouge. Perrier-Jouët brand range includes the luxury Belle Epoque vintage. The transaction is expected to be completed by the end of January. {{DRINKS }}