08 November 2014 12:13

Jay Z buys Armand de Brignac

Sovereign Brands, a New York-based wine and spirits company owned by the Berish family, has sold its interest in the Armand de Brignac ("Ace of Spades") Champagne brand to a new company led by Shawn "Jay Z" Carter.

It is widely accepted that Jay Z already had a $50 million stake in the brand and has essentially bought Sovereign Brands out of their share. For more on this story click HERE for an article on Forbes.com.

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