Moet Hennessy Buys Napa’s Joseph Phelps Vineyards

Dear Client:    Moet Hennessy announced it has acquired Napa-based Joseph Phelps Vineyards for an undisclosed sum.   Joseph Phelps Vineyards was established in Napa Valley in the early '70s by winemaker Joseph Phelps. The winery has amassed vineyard holdings in Napa and the Sonoma Coast, producing around 750,000 bottles, or about 62,500 cases, per year. Joseph Phelps is best known for its flagship Insignia, a Napa Valley blend of red Bordeaux varieties.  "We are delighted and very proud to welcome