LVMH to Buy 50% Stake in Jay-Z’s Ace of Spades
March 19, 2021
Cleary Gottlieb is representing LVMH Moët Hennessy Louis Vuitton (LVMH) in its acquisition of a 50% stake in Mr. Shawn C. Carter’s (also known as Jay-Z) Ace of Spades Holdings, LLC (Ace of Spades) that owns the champagne brand Armand de Brignac.
LVMH is the holding company of the LVMH group of companies, an international luxury group active in the manufacture and sale of luxury goods through its portfolio of 75 brands worldwide. LVMH’s main activities fall into its five core business groups: wines and spirits, fashion and leather goods, perfumes and cosmetics, watches and jewelry, and selective retailing.
Ace of Spades is a Delaware limited liability company, active in the distribution of wines and spirits, and in particular champagne under the brand name Armand de Brignac. The brand itself is also commonly referred to as Ace of Spades and known for its distinctive metallic bottles, as well as sometimes featured in Jay-Z’s music.