Jay-Z buys luxury champagne brand Armand de Brignac

Jay-Z, real name Shawn Carter, has bought the Armand de Brignac champagne brand.

New York wine and spirits company Sovereign Brands said it had sold the luxury brand to Jay-Z for an undisclosed amount.

The champagne, also known as “Ace of Spades”, is produced in the French town of Chigny-les-Roses by eight people.

The golden-bottled champagne, which featured in a 2006 Jay-Z music video, sells for $300.

Jay-Z, 44, has been known for his love of the champagne, which is bottled at a winemaking house founded in 1763. He reportedly displayed 350 bottles of the drink at a fundraiser that he and his wife Beyonce Knowles threw for President Barack Obama in a New York night club in 2012.

The acquisition is the latest addition to Jay-Z’s vast business interests outside of his music, which include a clothing line, restaurants and a recording label.

Jay-Z is considered the third richest hip-hop artist in the world with an estimated net worth of $520 million, according to Forbes magazine.