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
Bravery, dynamism and quality – Cocktail, No&Low, RTD
International trends in cocktail making are now reaching premium bars…
Read more >Year of the Dragon – expectations of the gastronomy sector for 2024
Chinese astrology predicts the awakening of great energies in the…
Read more >Keserű és édes
Körképünkben ismét együtt foglalkozunk az IWSR által flavoured spiriteknek, azaz…
Read more >Related news
IGD: Retail media and increased efficiency will be important in 2024
This article sets out to summarise the retail trend predictions…
Read more >Vegan activist on Forbes’ prestigious “30 successful Hungarians under 30” list
Raul Vida, the founder of Prove magazine, is the first…
Read more >UEFA and Just Eat Takeaway extend partnership
Just Eat Takeaway has extended its partnership with the UEFA…
Read more >