The battle for the Seagram drinks business became a two horse race this week when Allied Domecq announced that it had not submitted a bid. Instead it unveiled two more acquisitions. It has bought the leading champagne businesses Mumm and Perrier-Jouët to add to the deals it has done on Captain Morgan run and Stolichnaya vodka. Chief executive Philip Bowman said: "We have substantially achieved our commercial objectives without the risk of the integration of a large and disparate brand portfolio." This has left the two combined teams of Diageo/Pernod Ricard and Bacardi/Brown Forman/Vin and Sprit to fight it out. {{NEWS }}