Martell is the oldest of the major cognac houses.
Seagram has run into snags in seeking to acquire Martell, the renowned French cognac house.
Croizet is one of three vintage cognac houses that has continuously sold single vintage cognacs.
Other cognac houses, such as Moyet, exclusively use the crus to describe their different cognacs.
But the Martell family, which founded the cognac house in 1715, would retain control of the company with 57 percent of the voting rights.
Martell is the oldest of the major cognac houses and is renowned worldwide for its quality.
Seagram has won its bid for Martell, the 273-year-old cognac house.
Today it is still the only cognac house to hold this honour.
Two years ago Suntory agreed to buy Royer, a small cognac house.
Seagram and Grand Metropolitan faced off over Martell, the cognac house founded in 1715.
