Jay Z has finally conquered the wine business. Almost eight years after setting his eye on a world-class brand, the rapper is now a proud owner of one of the world's most recognizable wines.

From being a music magnate, the rapper-turned-entrepreneur is now leading his new company in acquiring a stake at the luxury brand Armand de Brignac Champagne.

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"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 announced.

"We have had a wonderful relationship with Jay Z throughout the years since he first discovered Armand de Brignac," a statement by Yvonne Lardner, Sovereign's brand director said in an email.

Lardner revealed that Jay Z was really keen on owning the brand and made the Berish family a nice offer it just can't afford to say no to.

However, no details about Jay Z's company, not even its name, was disclosed.

Jay Z's has long been interested in grabbing a stake in the world-famous Champagne company. Known as "Ace of Spades" for the prominent logo on its label, a gold bottle was featured in his 2006 music video for "Show Me What You Got."

In September 2012, Jay Z, also known as Shawn Carter, and wife Beyoncé Knowles organized a fund-raising event at the 40/40 Club in Manhattan for President Obama. Prominently displayed were 1350 bottles of Armand de Brignac Champagne.

"Ace of Spades" is a popular choice for athletes and almost every high-end bar carries this brand in its offerings. In fact, the likes of Dallas Mavericks, the Boston Bruins and the Boston Red Sox also serve bottles of this champagne each time they celebrate victory.

A bottle of Armand de Brignac Brut Gold sells for $300, while a 30-liter bottle weighing 100 pounds fetches up to $200,000.

The Cattier house, established in 1763 in Chigny-les-Roses, France, makes the Armand de Brignac champagne.

TagsJay-z, Beyonce, Armand de Brignac, Ace of Spades