Jay Z, has shown his huge liking of the champagne brand by featuring it in many of his music videos, most notably in 2006's "Show Me What You Got."

The deal with Sovereign Brands, the company which holds shares for Armand de Brignac Champagne, was announced on November 5, according to The New York Times.

"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," Sovereign Brands said in a statement.

The offer was described by Yvonne Lardner, global director of brand communications for Sovereign, as something "we simply couldn't refuse."
Details regarding the offer were not divulged but the brand is believed to be worth between $25 million and $30 million, according to the New York Post.

Apart from his newly acquired brand, Jay-Z also owns record label Roc Nation, the sports bar The 40/40 Club and was formerly a part-owner of the Brooklyn Nets.
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