Jay Z is officially in the champagne business. The rap mogul has purchased luxury spirits brand Armand de Brignac, whose gold bottle he helped make iconic in his 2006 video "Show Me What You Got."

New York-based Sovereign Brands said Wednesday it sold its interest in  — better known as Ace of Spades after the image on its bottle — to a new unnamed company led by Jay Z. "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," the company said in a statement.

The bubby, which starts at $300 a bottle, is served in the luxury suites at the Barclays Center, home of the Brooklyn Nets (Jay used to be a co-owner of the NBA team). The Roc Nation boss and his wife, Beyoncé, also had a custom-designed, 18-foot-tall tower of the champagne served at a 2012 fundraiser for President Obama that took place at Jay’s 40/40 Club.

Jay got behind Ace of Spades after he boycotted rival Cristal over its decision to distance itself from its hip hop clientele.

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(Photo: Ben Gabbe/Getty Images)