In his song Young Forever, Jay-Z envisions a life where “you never get old and the Champagne’s always cold.” He may not be able to do much about aging, but he may be able to help with the chilled bubbly.

Just days after the British beverage giant Diageo swapped whiskey for tequila, taking control of the Don Julio brand from Jose Cuervo, a new company led by Jay-Z has acquired Armand de Brignac Champagne from Sovereign Brands.

“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, added: Jay Z “became interested in owning the brand and made us an offer we simply couldn’t refuse.” Jay-Z’s interest in the Champagne, nicknamed “Ace of Spades” for the logo on its label, is not new. A gold bottle appeared in his 2006 music video for Show Me What You Got. In September 2012, Jay-Z held a fundraiser with his wife, Beyoncé Knowles, at the 40/40 Club in Manhattan for President Barack Obama that included a tower of 350 bottles of Armand de Brignac Champagne.

A bottle of Armand de Brignac Brut Gold retails for $300.