Shawn “Jay-Z” Carter and Bacardi reach a long-term deal for D’usse cognac after high-profile legal conflict.
The deal signals a new era for D’usse and involves Bacardi acquiring a majority stake in the billion-dollar brand, with Jay-Z retaining a significant share. Evercore was Jay-Z’s sole financial advisor.
Jay-Z said in a statement, “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.”
The previous legal dispute centered on the valuation of D’usse, with Jay claiming an inaccurate assessment. The recent announcement confirms Bacardi acquiring the majority of Jay’s ownership, resolving the matter.
The exact percentage of Jay’s stake acquired by Bacardi is unknown. Jay previously held 50%, with Bacardi holding the remaining 50%. A majority stake would indicate Bacardi owning at least 51% of the total.
Per reviewed public court documents by Complex, court proceedings showed Jay-Z’s offer to purchase Bacardi’s share for $1.5 billion and a valuation of Bacardi’s SC Liquor share at $2.5 billion. This suggests the recently announced acquisition stake was sold at a minimum valuation of $3 billion.