This is one of the many phrases that appear in small print on the label of an American wine, along with "blended and bottled by" or "vinted and bottled by." "Produced and bottled by" means that the winery named on the label crushed and fermented at least 75% of the wine in the bottle. It's usually an indication that the wine is of higher quality than generic blended brands, but doesn't guarantee that the wine is worth the price. See also bottled by, cellared by, estate-bottled, and made and bottled by.