99 Problems But Booze Ain't One: Jay Z branches out into alcohol business by buying his favourite luxury champagne brand

He's long been a fan of luxury Armand de Brignac Champagne, which retails from $300 a pop to a staggering $200,000 for a special 30-litre bottle.

And hip-hop mogul Jay Z has taken his love of the expensive bubbly to the next level by purchasing the alcohol label from Sovereign Brands for an undisclosed amount, making the company an offer they 'simply couldn't refuse'.

'We are proud to announce that Sovereign Brands, a New York-based wine and spirits company, has sold its interest in the Armand de Brignac Champagne brand to a new company led by the globally-renowned Shawn "Jay Z" Carter', the company said in a statement to the New York Times.

Yvonne Lardner, global director of brand communications for Sovereign, added: 'We have had a wonderful relationship with Jay Z throughout the years since he first discovered Armand de Brignac. He became interested in owning the brand and made us an offer we simply couldn’t refuse.'

The high-flying rapper has been a fan of the champagne - also known as Ace of Spades - for years, with one of their gold bottles featuring in his Show Me What You Got music video in 2006.

In 2012, a tower of 350 bottles of Armand de Brignac Champagne took pride of place when Jay Z and his wife Beyoncé Knowles threw a fund-raiser at the 40/40 Club in New York City.

Luxury bubbly: A bottle of the 'Ace of Spades' fizz sells for $300, but those with cash to spare can fork out over $200,000 on a special 30-litre bottle

And during his time as part owner of the Brooklyn Nets, the 99 Problems rapper - who is worth $500 million according to Forbes - made Armand de Brignac available to super-luxury box owners.

Each bottle of the exclusive fizz is handmade by a team of eight people in Chigny-les-Roses, France where the brand has been based since it was established in 1763.

Meanwhile, Jay Z reportedly renewed his wedding vows at a special commitment ceremony during a family holiday for Beyonce's 33rd birthday in September.

There had been rumours of a possible split between the two since May after footage of Beyonce's sister Solange violently attacking Jay in an elevator surfaced.

Since then there has been a wave of speculation that their six year marriage was on the rocks, including cheating rumours and claims that they slept in seperate rooms while on their joint On The Run Tour.

But it seems the 44-year-old star's union is still rock solid, with the pair putting on a united front at an NBA basketball game on Monday.

Fancy: Armand de Brignac champagne is stored in the cellars of the Cattier champagne family house in Chigny-les-Roses, France