Following a heated lawsuit with Bacardi, Jay-Z has accepted a multi-billion dollar deal with the premium coganc brad regarding D’Usse, which the two have co-owned since 2011. In October, the “Family Feud” rapper sued the liquor company demanding “financial clarity,” TMZ reported. However, according to Complex, after striking this new deal, Jay-Z and his company, SC Liquor, is excited more than ever to renew the partnership.
“Growing D’Usse over the past decade from an idea to one of the fastest-selling spirits in history has been a blessing,” Jay-Z said in a recent statement. “The next phase of this journey will further cement D’Usse’s legacy as one of the world’s most respected brands. I am excited to renew this partnership with Bacardi.”
Prior to the lawsuit, Jay offered to purchase the spirits company for $1.5 billion but was rejected. Despite him asserting that the liquor brand was around $2.5 billion, Bacardi countered with a significantly lower offer of $460 million.
The new agreement required Jay to sell a significant stake in D’Usse. Before this incident, he held 50/50 ownership of the cognac brand with Bacardi, so presumably, Bacardi now owns at least 75 percent of D’Usse.
Complex estimates “that the newly announced acquisition stake was sold at a valuation of at least $3 billion.”
