Jay Z is one of the few rappers who can reference a high-end champagne brand then buy the company.
For years, the lauded rapper has mentioned Armand de Brignac Champagne, also known as Ace of Spades, in songs like ‘Success,’ off his 2007 album, ‘American Gangster. He also displayed a bottle in his ‘Show Me What You Got’ video. Now, through a new company he’s leading, Jay Z owns the champagne brand.
Hov purchased Armand de Brignac from Sovereign Brands, who released Armand de Brignac in 2006. The company reveals they’ve had a good relationship with the Brooklyn-bred MC for quite some time.
“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,” the company said in a 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.”
Details of the deal were not released, but according to industry experts, the entire brand is worth somewhere in the neighborhood of $30 million. Also, the name of the new company Jay bought Armand de Brignac with has not been named.See 30 Awkward Hip-Hop Style Moments