The French bubbly—which has the nickname "Ace of Spades"—is produced by Cattier champagne house, which sells bottles to almost 80 countries. Armand de Brignac sells for about $300 a bottle.
Jay Z, whose given name is Shawn Corey Carter, is no stranger to the brand, having mentioned "Ace of Spades" in his 2006 rap "Show Me What You Got." Unsurprisingly, his endorsement threw the name into the commercial spotlight.
It's an interesting venture for Jay Z, however, as champagne sales have been fizzling. In 2013, the number of champagne bottles shipped fell by 5 million, following a 14.2 million drop in 2012, according to The Drinks Business.
Read MoreDr. Dre, Beats and Apple, and billionaire math