Jay Z Buys Ace of Spades Champagne Brand
In a statement, Sovereign Brands announced that they turned their interest in the company over to Hova.
“We are proud to announce that 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 the globally-renowned Shawn ‘Jay Z’ Carter.”
Jay made this purchase for an undisclosed amount. The brand is reportedly worth between $25 and $30 million.