Update: Jay-Z Says Bacardi Is Trying To Lowball Him In Suit Over Cognac Brand D’Usse, Entertainment Mogul Calls For Audit Of Company

October 21, 2022 by Tsai-Ann Hill in Music with 0 Comments

Jay-Z

Update: Jay-Z Says Bacardi Is Trying To Lowball Him In Suit Over Cognac Brand D’Usse, Entertainment Mogul Calls For Audit Of Company

Update: Jay-Z wants out of his D’Ussé Partnership but has run into a little trouble cutting ties with the brand.

Jay-Z is now looking to sell his share of D’Ussé, but he’s claiming that Bacardi is trying to lowball him on the sale total. According to court documents, a year ago Jay-Z’s company, SC Liquor, exercised its right to a buyout. Under their agreement, Bacardi has to “negotiate in good faith” to come up with a fair price for Jay’s stake in D’Ussé. However, the issue is that Jay-Z believes Bacardi is trying to shake him on the asking price.

Legal documents state that Bacardi’s subsidiary, Empire Investments Inc., is trying to “stall and stonewall” all efforts to get financial info on the valuation of D’Ussé. Reportedly, the “Run This Town” rapper feels Bacardi has purposely mismanaged parts of its business in hopes of hindering profits ahead of a potential buyout.

He’s now asking the court to force the spirits company to reveal its finances in regards to D’Ussé, which would seemingly give him “financial clarity” concerning the top-shelf cognac brand.

Original Story (Oct. 18, 2022): Jay-Z wants to find out how much money his famous cognac is making and he intends to do so legally.

Jay-Z

Jay-Z’s top-shelf cognac brand and Bacardi are partners. According to reports, rap mogul Jay-Z, born Shawn Corey Carter, has filed a lawsuit against D’Usse’s partners at Bacardi to find out how much money the cognac line is making. In the documents obtained, SC Liquor, the 52-year-old’s company, is requesting total financial clarity from Bacardi to retrieve the information.

Bacardi has had co-ownership with D’Usse since 2011. The entrepreneur, who drank the liquor from one of his Grammys for promotion, is known for shouting out the brand throughout his music. The lawsuit signifies something about the partnership isn’t working out at the moment. A sentence from the document read:

“SC Liquor says it needs to ‘monitor the conduct of [Bacardi’s] business to protect SC’s rights as’ a partner in the company.”

Documents state that the father of three’s co. needs all of the books, records, and the location of all the warehouses storing D’Usse barrels, accessories, and bottles. They also would like information concerning Bacardi’s physical inventory and its process.