LVMH’s wine and spirits division Moët Hennessy has acquired 50% of entrepreneur Shawn JAY-Z Carter’s champagne brand Armand de Brignac.

The financial details of the deal have not been disclosed.

Moët Hennessy president and CEO Philippe Schaus said: “For years, we have been following the fantastic success of Armand de Brignac and admiring their ability to challenge some of the rules of the champagne category.

“Often referred to as ‘Ace of Spades’, Armand de Brignac breaks barriers and reflects contemporary luxury, while preserving the traditions of the Champagne terroirs.

“Today, we are incredibly proud to be partnering with them and believe that the combination of our Champagne experience and international network coupled with Shawn JAY-Z Carter’s vision, the strength of the Armand de Brignac brand, and quality of its range of prestige cuvées will allow us to take the business to new heights across the world.”

Since 2006, Armand de Brignac has established its presence in the champagne category and is sold in North America, Asia, and Europe.

More than 500,000 bottles were sold in 2019.

In addition to the 50% stake acquisition in the Armand de Brignac, the two parties have also entered a global distribution agreement.

Carter said: “We are confident that the sheer power of the Moët Hennessy global distribution framework, its unparalleled portfolio strength, and its long-established track record of excellence in developing luxury brands will give Armand de Brignac the commercial power it needs to grow and flourish even further.”