MOËT GOES TO NAPA: Bernard Arnault has a few more drink options.
Moët Hennessy, the wines and spirits division of Arnault-led LVMH Moët Hennessy Louis Vuitton, has acquired Joseph Phelps Vineyards.
Founded by Joseph Phelps in 1973, the Napa and Sonoma-based wine collection is said to be one of the most respected and acclaimed in the U.S. It is known for its legendary Insignia, a Bordeaux-style Napa-grown blend, considered one of the most sought-after and desirable fine wines in the world. Insignia has four times been rewarded with Robert Parker Wine Advocate’s perfect 100-point scores for the 1991, 1997, 2002 and 2007 vintages.
Philippe Schaus, chairman and chief executive officer of Moët Hennessy, said: “We are delighted and very proud to welcome Joseph Phelps Vineyards to our portfolio of luxury wines and spirits. Through the combination of the wonderful vineyards of Joseph Phelps, the unrivaled experience and excellence of the Joseph Phelps team, and the support of our global distribution organization and unique expertise with premium, family-owned brands, we will continue the wonderful journey initiated by the founder 50 years ago and pursued by his heirs today. Joseph Phelps has been to the Napa Valley what Nicolas Ruinart, Mrs. Clicquot, Joseph Krug and Claude Moët were to the Champagne region, and likewise we will continue to develop this new House in the respect of the founder’s heritage and vision.”
The Phelps family said: “Our father founded Joseph Phelps Vineyards in 1973 with a passion for innovation, an unwavering commitment to quality, and joie de vivre. Nearly 50 years alter, we’re proud to have grown from a 600-acre cattle ranch and early pioneer of the Napa Valley to a critically acclaimed and internationally known producer of iconic wines.
“As we plan for the next 50 years, we believe that passing the care of this crown jewel of the Napa Valley and Sonoma Coast to Moët Hennessy, will build on our family legacy well into the future,” the family continued. “During our discussions with Moët Hennessy, it was abundantly clear that they value and embrace all of our brilliant and dedicated team members, and most importantly, are committed to ensuring that our founding mission and values remain at the heart of Joseph Phelps Vineyards.”
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