Shawn "JAY-Z" Carter and Bacardi Redefine the Next Chapter of the D'USSÉ Brand

Founders of D'USSÉ Renew Commitment with Aim to Elevate Iconic Cognac Brand to Next Level of Success

NEW YORK,Feb. 4,2023 -- Shawn "JAY-Z" Carter and Bacardi have jointly announced today a long-term agreement that renews their successful partnership with D'USSÉ,the world's fastest growing super-premium cognac brand. As part of the agreement,which positions the iconic cognac brand for its next era of growth,Bacardi has acquired a majority interest in the multi-billion-dollar brand from Mr. Carter and he will retain a significant ownership stake in the brand.

In 2012,Mr. Carter and Bacardi partnered to launch D'USSÉ Cognac to set a new and clear standard for cognac around the world,collecting numerous distinctions including Double Gold at the 2021 San Francisco World Spirits Competition and Double Gold at the 2022 Proof Awards. D'USSÉ has become a culturally iconic brand standing for integrity,boldness,freedom,and the elevation of authenticity.

D'USSÉ is the best-performing cognac brand outpacing the strong overall U.S. category CAGR growth by more than 30 percent in the past three years (IWSR to December 31,2021).

Stated Mr. Carter,"Growing D'USSÉ over the past decade from an idea to one of the fastest-selling spirits in history has been a blessing. The next phase of this journey will further cement D'USSÉ's legacy as one of the world's most respected brands. I am excited to renew this partnership with Bacardi."

Born from the prestigious Château de Cognac,France,D'USSÉ blends over 200 years of tradition with the inspiration of a passionate Cellar Master who set out to create a meaningful legacy. The result is a uniquely powerful,authentic Cognac that starts off with distinguished intensity and then gives way to a pleasantly smooth,balanced finish. The D'USSÉ Cognac range consists of VSOP (Very Superior Old Pale) and XO (Extra Old) qualities.

Evercore served as the exclusive financial advisor to Shawn "JAY-Z" Carter,and Paul,Weiss,Rifkind,Wharton & Garrison LLP,Gibson,Dunn & Crutcher LLP and Reed Smith LLP served as legal advisors.