The pitch is being handled through Agency Insight, which is drawing up a longlist of agencies.
The incumbent on the media account, Vizeum, will take part in the pitch but the current creative agency, KLP Euro RSCG, will not.
Robin Campbell, Freixenet's marketing and sales director, confirmed that he would be leading the pitch.
The company spent £1 million on its advertising last year and created a television and cinema commercial, which used the line: "Feeling a little Freixenet."
Last year, Freixenet launched Ash Tree Estate, its third still-wine brand, alongside its Chardonnay Macabeo and Shiraz Monastrell labels.
Mateus, the Portuguese sparkling rose wine, one of Freixenet's main rivals, is also holding a review of its £2 million account. It has drawn up a shortlist consisting of TBWA\London, Abbott Mead Vickers BBDO, Publicis, Rainey Kelly Campbell Roalfe/Y&R and Euro RSCG London.