Jay-Z & Bacardi Reach Deal On Cognac Venture
Music mogul Jay-Z and Bermuda headquartered Bacardi announced a long-term agreement in which Bacardi will acquire a majority interest in the multi-billion-dollar D’USSÉ cognac brand from Jay-Z and “he will retain a significant ownership stake in the brand.”
This follows after what has been described as “months of contentious arbitration and litigation in multiple courts.”
The announcement said, “Shawn “Jay-Z” Carter and Bacardi have jointly announced a long-term agreement that renews their successful partnership with D’USSÉ, the world’s fastest growing super-premium cognac brand. As part of the agreement, which positions the iconic cognac brand for its next era of growth, Bacardi has acquired a majority interest in the multi-billion-dollar brand from Mr. Carter and he will retain a significant ownership stake in the brand.
“In 2012, Mr. Carter and Bacardi partnered to launch D’USSÉ Cognac to set a new and clear standard for cognac around the world, collecting numerous distinctions including Double Gold at the 2021 San Francisco World Spirits Competition and Double Gold at the 2022 Proof Awards. D’USSÉ has become a culturally iconic brand standing for integrity, boldness, freedom, and the elevation of authenticity. D’USSÉ is the best-performing cognac brand outpacing the strong overall U.S. category CAGR growth by more than 30 percent in the past three years [IWSR to December 31, 2021].”
Mr. Carter said, “Growing D’USSÉ over the past decade from an idea to one of the fastest-selling spirits in history has been a blessing. The next phase of this journey will further cement D’USSÉ’s legacy as one of the world’s most respected brands. I am excited to renew this partnership with Bacardi.”
