Jay-Z Buys 'Ace Of Spades' Luxury Champagne Label

Jay-Z has several million reasons to toast! Rapper Shawn "Jay-Z" Carter has bought an interest in the Armand de Brignac luxury champagne label owned by Sovereign Brands, a closely held wine and liquor company in New York. The "Empire State of Mind" rapper has long been associated with Armand de Brignac, the champagne known as "Ace of Spades," promoting it in his music videos and public appearances.

The Ace of Spades brand is known for its metallic bottles, which are made by hand at the Cattier family's 251-year-old chateau in Chigny-les-Roses, France. The shiny, metallic gold-and-silver bottles stand out from the rest.

Jay-Z specifically bought the interest in Armand de Brignac after submitting an offer a Sovereign spokeswoman said "we simply couldn't refuse." According to the New York Post, it was also an offer they wouldn't disclose. Industry metrics, however, indicate the brand in its entirety is worth between $25 million and $30 million.

Jay-Z bio author Zack O'Malley Greenburg estimates the wholesale price per Armand de Brignac bottle at $225. Greenburg also suggests Ace of Spades generates annual revenue of $13.5 million, and using an industry multiple of 2.1 times sales would make Armand de Brignac worth $28.3 million.

In his 2011 book, Greenburg estimates a production cost of $13 per bottle, which translates into a 94 percent profit margin. This means even a three-way split among Cattier and Sovereign as co-owners and Jay-Z as an investor, the author notes, would deliver more than $4 million a year to each participant.

If that's not a reason to toast, we don't know what is.

Beyoncé is sure to be "Drunk in Love" with this latest venture. Perhaps we'll be seeing a lot more Ace of Spades champagne in her videos as well.

Ace of Spades champagne is a favorite among many celebrities. Check out these photos:

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