Joseph Phelps vineyards acquired by Moët Hennessy for undisclosed sum
Last week, French luxury group LVMH announced their acquisition of Napa Valley based Joseph Phelps Vineyards. The news of the acquisition came shortly after Moet Hennessy launched its environmental forum, a project dedicated to upholding responsible viticulture with an innovative approach. These values, one can assume, will be implemented in the US takeover.
Joseph Phelps - Napa Valley Winery
Although the details of the deal remain undisclosed, Phillippe Schaus, the chairman and CEO of Moët Hennessy said the Joseph Phelps vineyards hold the right mix of scale, quality and product offering to add to their portfolio.
From cattle Ranch to acclaimed winery
Joseph Phelps
Nestled in California’s Napa Valley wine region, the eponymous winery was founded in 1973 on a 600-acre former cattle ranch by Joseph Phelps. Joseph, aka Joe, was known for his spirit of innovation and his tireless quest for excellence. He fully understood the relationship between vineyards, grapes and wine quality and through the 1970s, ‘80s and ‘90s he actively sought and purchased fine vineyard properties in Napa Valley across St Helena, Rutherford, Oakville, Stags Leap District, Oak Knoll District, South Napa and Carneros. He later, also acquired two vineyards on the western Sonoma Coast.
The internationally acclaimed and prominent winery now produces roughly 750,000 bottles per annum, which includes the famous Insignia. The proprietary red Bordeaux-style blend was awarded 100 points by Robert Parker for its 1991, 1997, 2002 and 2007 vintages.
It is this particular strength for “red” that that drew in LVMH, which also counts Cloudy Bay and Whispering Angel within its Portfolio. The acquisition was not only a way to meet the surge in demand for high-end wine, but also a means to round off its offering. What better way to achieve this than by incorporating a family business with such legacy and heritage.
Joseph Phelps - Home Ranch Vineyard Napa
Joseph Phelps - Winery Oval Room
Joseph Phelps - Bordeaux style blend Insignia 2013
The next chapter
“Joseph Phelps Vineyards has been a producer of iconic wines for nearly 50 years. During that time, and as we plan for the next 50 years, our family’s guiding principle has always been to honour and build on this legacy. We believe that passing the care of this crown jewel of the Napa Valley and Sonoma Coast to LVMH, a world-renowned leader in the luxury wines and spirits market, will enable us to do just that. As the trusted steward of historic wineries such as Dom Pérignon, Chateau d’Yquem, and Chateau Cheval Blanc, among others, LVMH is uniquely situated to shepherd Joseph Phelps Vineyards into the future, while staying loyal to the founding roots that make our brand synonymous with best-in-class California winemaking.”
We have no doubt that the French titan will maintain the values of excellence, craftsmanship and heritage that are synonymous with the Joseph Phelps winery, whilst preserving its singularity and authenticity.