Möet Hennessy, the wine and spirits division of the luxury goods group LVMH, takes over the Californian winery Joseph Phelps Vineyards. The winery owns 500 hectares of vineyards in Napa Valley and Sonoma County and produces around 750,000 bottles annually. Joseph Phelps is one of the most respected wineries in California. Especially the cult wine Insignia, a cuvée of classic Bordeaux varieties, is considered one of the characteristic red wines from Napa today. Joseph Phelps was one of the pioneers of Napa Valley and revived the valley's wine community in the 1960s and 70s.
Philippe Schaus, CEO of Moët Hennessy, told Wine Spectator: "We have an excellent selection of white and rosé wines in our portfolio, and wanted to expand our red wine offering with excellent wines from California. A strong presence in Napa is critical to growing our wine business in the US.".
According to Schaus, no changes are planned at the winery in the immediate future, and head oenologist Ashley Hepworth will continue his work. LVMH already owns the Newton Vineyard wine estate in Napa Valley and holds a majority share in Colgin Cellars. The purchase price is not known.