Jay-Z Just Bought A Luxury Champagne Brand

Hip-hop mogul Jay-Z is now the official owner of his favorite luxury Champagne brand, Armand de Brignac, affectionately called "Ace of Spades," reports The New York Times. 

A new, yet-unnamed company led by Jay-Z reportedly acquired the Champagne from Sovereign Brands "just days after the British beverage giant Diageo swapped whiskey for tequila, taking control of the Don Julio tequila brand from Jose Cuervo."

Jay-Z included a gold bottle of the "Ace of Spades" in his 2006 video "Show Me What You Got," and hosted a 2012 fundraiser for Barack Obama that included "a tower of 350 bottles of Armand de Brignac Champagne."

A single bottle of Armand de Brignac Champagne retails for $300, while a hundred-pound, 30-liter bottle can sell for $200,000.

In a statement from Sovereign, the company said that it was proud to have done businesses with "the globally renowned Shawn 'Jay-Z' Carter." In an email exchange with The New York Times, Sovereign's global director of brand communications, Yvonne Lardner, wrote, "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."

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Karen Lo is an associate editor at The Daily Meal. Follow her on Twitter @appleplexy.