Bacardi buys majority of Jay-Z’s cognac brand, ending legal battle
Bacardi resolved a legal battle with entertainer and businessman Jay-Z by buying a majority of his stake in D’Ussé, the super-premium cognac brand he developed with the alcoholic beverage maker.
Bacardi now owns at least 75.01% of the brand, Shawn Carter, known professionally as Jay-Z, retains a “significant ownership stake.”
D’Ussé is a multi-billion dollar brand, according to a release announcing the deal. It has received several awards at spirits competitions, and has outpaced cognac category growth in the last three years at a compound annual growth rate of more than 30%, according to 2021 IWSR data cited by Bacardi.
This marks the second alcoholic beverage brand Jay-Z has developed and sold a large portion of his share. In 2021, Moët Hennessy Louis Vuitton bought a 50% stake in the entertainer’s Armand de Brignac Champagne.
Related news
Bacardi opens a new chapter in the history of MARTINI®
Bacardi, a family-owned spirits company, is building on the values…
Read more >Discover the Italian icon – MARTINI® opens a new chapter
Bacardi, a family-owned spirits company, is building on the values…
Read more >Related news
Carrefour sells Italian branch to NewPrinces Group
Carrefour has entered into a binding agreement with NewPrinces Group…
Read more >