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Dr. Dre is an equity owner in a new beverage venture with Drinks American Holdings Inc. that will produce and market both non-alcoholic and alcoholic beverages it was announced today (February 25).

The first product under the deal is a new super premium cognac, followed by a new sparkling vodka, which is currently being developed.

The super producer also plans to enter the imported premium tequila business in the future as well.

“I’m always down for a new challenge,” Dr. Dre said of his latest business venture. “When Drinks Americas approached me about going into business with them, I knew there was a lot of competition out there but it was the same way when I started doing music. I’m going to put the best product out there, because that’s what I do.”

Drinks Americas Holdings portfolio of artist driven brands includes Willie Nelson’s Old Whiskey River Bourbon, Donald Trump’s Trump Super Premium Vodka and Paul Newman’s Lightly Sparkling Fruit Juice Drinks and Flavored Waters.

Drinks Americas’ deal with Dr. Dre is part of a previously announced agreement between the beverage makers and Geffen A&M Records, which distributes Dr. Dre’s Aftermath Entertainment record label.

“We expect Dre’s foray into the beverage business to rival the magnitude of his success in the music business,” said J. Patrick Kenny, President and CEO of Drinks Americas. “Our plan is to be in key markets as 2008 unfolds with a superior cognac followed by selected premium spirits category entries. We have the credit facilities and production partners.”

Dr. Dre is still preparing his highly anticipated album, Detox.