Hip hop star Jay Z has bought a stake in the Armand de Brignac Champagne brand, but the structure of the deal is unclear.
Image: Getty / AFP / Francois Nascimbeni
New York-based drinks group Sovereign Brands said Jay Z has ‘acquired its interest in Armand de Brignac’, nearly a decade after referencing the highly priced Champagne brand in his music and seeing it become a nightclub favourite.
Nicknamed ‘Ace of Spades’ Chamapgne, the Champagne comes in gleaming, metallic gold bottles. A single bottle of non-vintage brut was on sale at Selfridges in the UK for £300.
A fee for the deal was not disclosed and several other details remain obscure.
A further statement by Sovereign’s global spokesperson for Armand de Brignac, UK-based Yvonne Lardner, said Jay Z showed interest in owning the Champagne label and made an offer that Sovereign couldn’t refuse.
Decanter.com queries to the parties involved have so far failed to ascertain whether Jay Z has become the 100% owner of the brand.
Sovereign, owned by the Berish family, said ‘a new company led by Shawn ‘Jay Z’ Carter’ had been used for the deal. The new company was not named.
Armand de Brignac is produced by the Cattier family in Chigny-les-Roses, Champagne. But it was not immediately clear what, if any, financial stake Cattier still has in the brand name.
Sovereign said it would now focus on its Luc Belaire sparkling wine brand from Provence, France. Luc Belaire Rose has been talked up by US rapper Rick Ross.
Written by Chris Mercer