By Jonathan Davies

US music giant Jay Z has bought the French champagne brand Armand de Brignac.

Sovereign Brands, the New York based wine and spirits company, said it had sold Armand de Brignac to Jay Z for an undisclosed amount.

The gold-bottled champagne, also known as "Ace of Spades" is produced by just eight people in the small French town of Chigny-les-Roses.

The brand rose to fame in 2006 after featuring in on of Jay Z's videos. It sells for around £188 a bottle.

It was widely reported that Jay Z and his wife Beyonce displayed 350 bottles of Armand de Brignac at a fundraising event for US President Barrack Obama in 2012.

It is the latest investment made by Jay Z who has expanded his interests outside of his own music. He set up his own record label, clothing line and restaurants.

According to Forbes, the 44 year old has an estimated worth of $520m.

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