Philippe Schaus, chairman and chief govt of the Moët Hennessy division of LVMH, referred to as Joseph Phelps Vineyards ‘an iconic identify and an iconic vineyard’.
Joseph Phelps based his eponymous vineyard on a 260ha former cattle ranch in Napa Valley in 1973.
He turned it into one among California’s most distinguished producers, famed for its flagship Insignia – a Bordeaux-style mix – and its pioneering use of Rhône varieties, which kick-started the ‘Rhône Rangers’ motion within the Golden State.
The founder’s son, Invoice Phelps, joined the enterprise in 1998 and serves as govt chairman, whereas third-generation relations are additionally a part of the manager administration group.
Joseph Phelps owns 172ha of vineyards in Napa Valley on 9 property plots, unfold throughout St Helena, Rutherford, Oakville, Stags Leap District, Oak Knoll District, South Napa and Carneros. It additionally has 40ha over two vineyards on the western Sonoma Coast.
‘It’s vital for us that we’re buying a household enterprise with a legacy and heritage,’ mentioned Schaus. ‘It’s tremendous vital that we maintain that heritage.’
LVMH portfolio
Moët Hennessy is greatest identified for its Champagne portfolio, which incorporates Moët & Chandon, Krug, Veuve Clicquot, Dom Pérignon, Ruinart and Armand de Brignac, together with spirits comparable to Hennessy, Ardbeg and Glenmorangie.
Nevertheless, it additionally has a formidable portfolio of nonetheless wines, that includes the likes of Château Cheval Blanc, Clos des Lambrays, Château Galoupet, Whispering Angel, Cloudy Bay and candy wine Château d’Yquem.
It already owns the celebrated Newton Winery in Napa Valley’s Spring Mountain AVA, and it has now bolstered its Californian vary with the Joseph Phelps Vineyards buy
LVMH’s goal is to serve the manifold ‘moments of consumption’, from aperitifs and Champagne receptions to positive eating, bars, golf equipment and cocktails.
Shaus mentioned Moët Hennessy was lacking ‘a powerful crimson wine’, so it swooped upon Joseph Phelps Vineyards.
‘LVMH values and embraces all of our sensible and devoted group members and all those that have spent a long time serving to to make Joseph Phelps Vineyards what it’s right now,’ mentioned the Phelps household in a press release confirming the sale.
‘The added assets and help that LVMH brings will assist carry the rules all of us maintain pricey – innovation, sustainability, and the pursuit of excellence – ahead to the subsequent 50 years and past.’
