Jay Z Expands Empire With Acquisition of Luxury Champagne Label 'Ace of Spades'
The rap mogul snaps up the Armand de Brignac Champagne line from Sovereign Brands
"Cheers" will no longer be enough to signal the start of champagne celebrations for Jay Z. He'll now need a couple of "ka-chings" to follow, thank you very much.
The 44-year-old New York native has closed a deal to acquire luxury label Armand de Brignac Champagne — commonly known as "Ace of Spades" for its signature bottle design — from Sovereign Brands. The New York-based wine and spirits company is owned and operated by the Berish family (brothers Brett and Brian, and their father Barry).
Sovereign confirmed the sale to The Hollywood Reporter, but terms of the deal were not disclosed.
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Fans of Jay Z shouldn't be shocked by the sale because the rapper turned businessman has shown love for the label over the years. In 2006, he featured a gold bottle of Ace in his music video for "Show Me What You Got," and in 2012, a fundraiser for President Obama hosted by Jay and wife Beyonce at his 40/40 Club featured a tower of 350 bottles of Armand de Brignac.
In an emailed statement, Sovereign's global director of brand communications Yvonne Lardner confirmed Jay Z's longtime relationship with the brand to the New York Times, offering that her company has "had a wonderful relationship with Jay Z throughout the years."
"He became interested in owning the brand and made us an offer we simply couldn't refuse," she added.
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According to Sovereign, a staff of eight crafts each Armand de Brignac bottle by hand at the Cattier family house, which was established in 1763 in Chigny-les-Roses, France. The special attention does not come cheap: A bottle of Armand de Brignac Brut Gold is sold for $300, while a far pricier version — a 30-liter bottle weighing 100 lbs — can go for as much as $200,000.
Jay Z's other interests include his companies Roc Nation and Roc Nation Sports. His estimated net worth is a reported $540 million. We'll drink to that.