News Alert: Moët Hennessy Buys Napa’s Joseph Phelps Vineyards

Another Napa wine icon is changing hands. Wine Spectator has learned that LVMH Moët Hennessy, the global wine and fashion titan, has signed a deal to purchase Joseph Phelps Vineyards. The agreement includes the brand, winery, and inventory, and several hundred acres of vines in Napa Valley and Sonoma County. The purchase price was not disclosed.

“Moët Hennessy plans to build on the admirable legacy established by Joseph Phelps, his children, and grandchildren, maintaining the shared values of quality, craftsmanship, entrepreneurship, and focus on sustainability,” CEO Philippe Schaus said in a statement.

Joseph Phelps was one of Napa’s pioneers, part of a generation that moved to the valley in the 1960s and ’70s and revitalized its wine scene. His classic Bordeaux blend Insignia helped establish the winery as a leading Cabernet producer, with Phelps’ and winemaker Craig Williams’ 2002 bottling named Wine Spectator’s Wine of the Year in 2005. Wine Spectator has the full story.

Tagged : Joseph Phelps, LVMH, Moet Hennessy, Wine Spectator

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