According to Bloomberg, HOV and Bacardi were able to close the multi-billion dollar lawsuit with the brand purchasing Jay’s purchasing stake in the company for $750 million. Hov will retain a “significant ownership stake,” signaling a purchase of JAY-Z’s majority stake.
“Growing D’USSÉ over the past decade from an idea to one of the fastest-selling spirits in history has been a blessing,” JAY offered in a statement. “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.”
Near the close of 2022, the Hip-Hop mogul and his company, SC Liquor, attempted to pull the financial records of his 50/50 partnership with Bacardi over D’Usse.
According to TMZ, the partnership between Hov and Bacardi launched in 2011, and Hov was looking to receive all books, records, and warehouses storing D’Usse barrels, bottles, and accessories. Hov also wanted details of the physical inventory and the process.
The rapper will still retain “a significant ownership stake” through his SCLiquor LLC company. He said in a statement that the venture was “a blessing” adding, “I am excited to renew this partnership with Bacardi.” JAY-Z officially partnered with Bacardi to launch D’USSÉ in 2012, where only VSOP and XO are available. However, earlier this year, JAY-Z decided he wanted to be bought out by the company. In a lawsuit, he claimed that Bacardi was lowballing him, offering him only $500 million USD when he thought he should be getting an amount closer to $1.5 billion USD.
Now, a new agreement states that JAY-Z will still be a part of the brand as he will “retain a significant ownership stake.”
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