L’chaim! Jay Z is celebrating the latest addition to his business empire, Armand de Brignac Champagne.

The hip-hop mogul acquired the luxury champagne brand, nicknamed Ace of Spades, from Sovereign Brands, it was announced today.

“We are proud to announce that Sovereign Brands, a New York-based wine and spirits company owned by the Berish family, has sold its interest in the Armand de Brignac (‘Ace of Spades’) Champagne brand to a new company led by the globally renowned Shawn ‘Jay Z’ Carter,” Sovereign Brands said in a statement.

Yvonne Lardner, global director of brand communications for Sovereign, told The New York Times: “We have had a wonderful relationship with Jay Z throughout the years since he first discovered Armand de Brignac. He became interested in owning the brand and made us an offer we simply couldn’t refuse.”

The gold bottle has appeared in Jay Z’s music videos including “Show Me What You Got” and “Roc Boys (And The Winner Is)…” In September 2012, Mr. Carter hosted a fundraiser for President Obama at his 40/40 Club in Manhattan that included a tower of 350 bottles of Ace of Spades.

A bottle of Armand de Brignac Brut Gold sells for $300. A 30-liter bottle, which is equivalent to 40 regular bottles, retails for over $200,000.