Score another win for Jay Z. The rapper/mogul has purchased luxury champagne brand Armand de Brignac aka Ace Of Spades.
Reports the New York Times:
Just days after the British beverage giant Diageo swapped whiskey for tequila, taking control of the Don Julio tequila brand from Jose Cuervo, a new company led by Jay Z has acquired Armand de Brignac Champagne from Sovereign Brands.
“We are proud to announce that Sovereign Brands, a New York-based wine and spirits company owned by the Berish family, has sold its interest in the Armand de Brignac (‘Ace of Spades’) Champagne brand to a new company led by the globally renowned Shawn ‘Jay Z’ Carter,” Sovereign Brands said in a statement.
Yvonne Lardner, global director of brand communications for Sovereign, added in an emailed statement: “We have had a wonderful relationship with Jay Z throughout the years since he first discovered Armand de Brignac. He became interested in owning the brand and made us an offer we simply couldn’t refuse.”
Although Hov has long touted the champagne in the easy to spot gold bottle, he was never the owner as some thought.
At this time there is no info on what Jay Z and the unnamed company’s stake in Armand de Brignac is percentage wise.