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The legal battle between JAY-Z and Bacardi has reached a close as the two sides have entered a long-term agreement.
According to Complex, the agreement sees Bacardi acquiring a majority interest in the multibillion-dollar brand. Hov will retain a “significant ownership stake,” signaling a purchase of JAY-Z’s majority stake. In previous reports, JAY-Z owned 50 percent of 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,” 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 suit reads that Hov’s company wants to “monitor the conduct of [Bacardi’s] business to protect SC’s rights as” a partner.
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