CNBC : " LVMH buys California wine giant Joseph Phelps as high-end drinks market soars "

LVMH’s Moet Hennessy division on Wednesday announced it has acquired California wine-maker Joseph Phelps Vineyard. The deal delivers Moet one of the best-known California wine makers, famous for its red table wines and trophy Insignia label. Moet Hennessy CEO Philippe Schaus told CNBC demand in Europe is “on fire” thanks in part to the return of European tourism.