Global leader in luxury wines and spirits Moët Hennessy, a division of LVMH Moët Hennessy Louis Vuitton SE, announced a partnership with Shawn Jay-Z Carter, pursuant to which Moët Hennessy has acquired a 50% stake in the Champagne brand, Armand de Brignac, previously wholly-owned by Jay-Z. In connection with this investment, the parties will also enter into a global distribution agreement. The 50-50 structure of the investment is essential in bringing the two partners’ expertise and strengths together to ensure a successful long-term partnership.
"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," says Philippe Schaus, President & CEO of Moët Hennessy. (excerpt from joint press release)
BFKN served as lead counsel to Moët Hennessy. The BFKN’s multidisciplinary team was led by Corporate & Securities and Fashion, Luxury & Retail Groups chair Daniel L. Dominguez, along with founder Peter J. Barack and Kait E. Kelly, Intellectual Property Group co-chair Scott J. Slavick and Thomas M. Gniot assisted with intellectual property matters, Compensation & Employment Group chair Andrew K. Strimaitis and Allison N. Powers advised on employment issues, and Tax & Business Planning Group co-chair Michael J. Towne and Megan E. Toal provided guidance with respect to the tax aspects of the transaction.
To read more about this deal, visit:
- Armand De Brignac (February 2021): https://armanddebrignac.com/la-vie-en-or/moet-hennessy-partnership-with-shawn-jay-z-carter/
- Rolling Stone (February 2021): https://www.rollingstone.com/pro/news/jay-z-ace-of-spades-champagne-lvmh-1131365/
- Wall Street Journal (February 2021): https://www.wsj.com/articles/jay-z-and-lvmh-pop-the-cork-in-champagne-tie-up-11613994900