Jay-Z and Bacardi have reached an agreement over the D’USSÉ brand amid public litigation. According to a press release, the joint announcement reveals the entities have renewed their partnership, with Bacardi aquiring a majority interest in the multi-billion-dollar brand.
The Hip-Hop veteran will retain a significant ownership stake in the brand.
Growing D’USSÉ over the past decade from an idea to one of the fastest-selling spirits in history has been a blessing,” shared the 53-year-old. “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.”
In October 2022, it was revealed that the Reasonable Doubt rapper filed a lawsuit against Bacardi for a lack of transparency in the partnership. It was revealed that Jay-Z exercised his right to a buyout in the previous year. Bacardi was then faced with the task of negotiating “in good faith” on a price.
The Grammy Award-winning artist called the amount initially presented by Bacardi “well below” the value of the D’USSÉ. By November 2022, the lawsuit was estimated to be $2 billion. In January 2023, Hov filed paperwork to move the lawsuit from the United States to Bermuda, where the alcohol company is based.
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The partnership began in 2012 when the Brooklyn native teamed with Bacardi to launch D’USSÉ Cognac. According to the press release, 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.