The owners of California wine company, Cecchetti-Sebastiani Wine Group, have taken the company off the market which has ruled out a recently mooted takeover by the Foster's Group.

According to industry journal the Wine Market Report, Cecchetti-Sebastiani had received offers ranging from US$25m to US$50m from four different suitors, with the Foster's wine division, Beringer Blass, among them.

A bid was also reported to have been received from Pacific Wine Partners, the US joint venture between Constellation Brands and the Australian wine company, BRL Hardy Ltd.

Cecchetti-Sebastiani's owners, Don Sebastiani and Roy Cecchetti, were said, by the Wine Market Report, to have withdrawn from the sale because they were not able to obtain guarantees from potential buyers that existing wholesaler relationships would be maintained.