Moet Hennessy is acquiring a 50% stake in rapper and entrepreneur Jay-Z’s Champagne brand, Armand de Brignac known familiarly as Ace of Spades.
Terms of the deal, which was announced Monday, weren’t released.
The rapper bought Armand de Brignac for an undisclosed sum in 2014. The brand sold more than 500,000 bottles worldwide in 2019.
Moet Hennessy President and CEO Philippe Schaus said Armand de Brignac breaks barriers and reflects contemporary ideas of luxury, even as it supports historic Champagne-making traditions.
“We are incredibly proud to be partnering with them,” Schaus said.
Jay-Z said the partnership will help Armand de Brignac grow and flourish, noting Moet Hennessy’s track record of developing luxury brands like Dom Perignon and Veuve Clicquot. Moet Hennessy is the wine and spirits division of luxury goods company LVMH.
“It is a partnership that has felt familiar the entire time,” Jay-Z said.