MOËT HENNESSY STRENGTHENS ITS GLOBAL PORTFOLIO OF EXCEPTIONAL WINES WITH THE ACQUISITION OF JOSEPH PHELPS VINEYARDS, ONE OF THE MOST RESPECTED AND ACCLAIMED WINE PROPERTIES OF THE NAPA VALLEY IN CALIFORNIA

PARIS and NEW YORK and SAN FRANCISCO, June 29, 2022 /PRNewswire/ -- Moët Hennessy, the world leading luxury wines and spirits division of LVMH, is pleased to announce the addition of Joseph Phelps Vineyards to its portfolio. This acquisition follows Moët Hennessy's development strategy, which aims to satisfy its consumers and distribution partners' aspirations with an increasingly diversified and comprehensive portfolio, adding Houses with strong values of excellence, craftsmanship and heritage.

Founded by Joseph Phelps in 1973, the Napa and Sonoma-based wine collection is one of the most respected and acclaimed in the United States. It has made its way to the best tables and cellars across the country, and its legendary Insignia, a Bordeaux-style Napa-grown blend, is considered one of the most sought-after and desirable fine wines in the world.

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 a focus on sustainability.

After the closing of the acquisition, the entirety of the Joseph Phelps collection of exceptional Napa Valley and Sonoma Coast wines will be welcomed by Moët Hennessy's customers, alongside its outstanding multi-centennial Champagnes and its growing offer of exceptional still wines from Europe and the New World.

Philippe Schaus, Chairman and CEO of Moët Hennessy declares: "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 unrivalled 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 fifty 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."