An article in the Dec 9 issue of the Sunday Telegraph said the French wine company had met Thresher's owners Vision Capital in secret to discuss a tie-up and other matters.
However, statements from the Castel Group and Vision Capital said there were no plans to merge the businesses and claimed the meeting was simply to discuss ideas and concepts for the UK marketplace.
Oddbins managing director Fabrice Bidault and Eudes Morgan, managing director of Nicolas said in a statement: "We can categorically state that the Castel Group is not proposing to acquire Threshers, sell Oddbins nor is involved in any merger talks between Threshers and Oddbins."
A Thresher Group spokesman said: "It is entirely normal for Vision Capital to meet from time to time with parties interested in its various portfolio companies, including Thresher Group. It is very much business as usual at Thresher Group."