No doubt they can afford to invest in growth of the brand but Joseph Phelps produces some cracking wines all the way up to it's famous Insignia (a Cabernet based Bordeaux blend that hasn't scored less that 96 Parker points since 2011). Will they now, as in the case of Cloudy Bay Sauvignon Blanc, make much more wine and charge the same?
We may be wrong but while Cloudy Bay is still a great wine, it is no longer miles ahead of the competition - and still charges a premium price. And remember, Californian wines (actually all USA wines) are overpriced on the Irish market in comparison to their international competition - Kendall Jackson wines start at the mid €20s !!
Now, it's not easy to be a world leader on a budget but does ownership by a multinational help or hinder a vineyard in their search for the perfect wine?
Please note, this is an opinion piece. Some of ye may think that Cloudy Bay Sauvignon Blanc is as good as it was before they increased production (they won't say how many cases they make!) but we don't!