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Moet Hennessy Buys 50% Of Jay-Z Ace Of Spades

Moet Hennessy and Jay-Z couldn’t be happier with the outcome of the Ace Of Spades deal. In a statement after the announcement, Jay-Z said, “We are confident that the sheer power of the Moët Hennessy global distribution framework, its unparalleled portfolio strength and its long-established track record of excellence in developing luxury brands will give Armand de Brignac the commercial power it needs to grow and flourish even further.”

Cheers are in order for Jay-Z after completing yet another major business deal. The luxury beverage company LVMH Moet Hennessy has acquired 50% of Jay-Z’s luxury champagne Armand de Brignac, or famously known as “Ace of Spades.”

This isn’t the first business deal Jay-Z has made recently. Matter of fact, Hov had a pretty active 2020. In October, he launched his own cannabis company entitled Manogram. In December, his company/label Roc Nation, partnered with Random House to launch a publishing imprint entitled Roc Lit 101. Aside from running multiple businesses, Jay-Z was featured on the latest “Judas and the Black Messiah Soundtrack.” Clearly, Jay-Z never stops working but lucky for him he can pour himself a glass of Ace every night.

Now partners, Moet Hennessy and Jay-Z couldn’t be happier with the outcome of the deal. In a statement after the announcement, Jay-Z said, “We are confident that the sheer power of the Moët Hennessy global distribution framework, its unparalleled portfolio strength and its long-established track record of excellence in developing luxury brands will give Armand de Brignac the commercial power it needs to grow and flourish even further.”

CEO and President of Moet Hennessy expressed his excitement by saying, “We are going into this partnership on equal terms together with JAY-Z and his family and with the same conviction that we are only at the beginning of a wonderful story.”

The final sum of the deal has not been disclosed to the public but 500,000 bottles of Ace Of Spades were sold in 2019. One bottle costs about $300…so you do the math.

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