And the rich get richer.
Rap mogul Jay Z added to his already extensive portfolio by purchasing the liquor brand he helped make famous in the hood.
In a statement to media on Wednesday Sovereign Brands announced:
“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.”
Terms of deal were not disclosed.
More from Sandrarose.com: