The influence of biexciton formation on the four-wave-mixing response of multiple quantum wells having a strong inhomogeneous broadening of the exciton transitions has been investigated. The experimental results are consistent with a model which distinguishes between crystal regions where the exciton energy is almost constant over the spatial extension of the biexciton state, and regions where the fluctuations of the exciton energy are comparable to or larger than the biexciton binding energy.