Drake has agreed to sell a majority stake in his lifestyle brand October’s Very Own, better known as OVO, to Authentic Brands Group, giving the licensing company control of a brand that has grown alongside the Canadian rapper’s music career.

Authentic said Drake will retain a minority stake in OVO and remain involved in its creative direction. The company is also partnering with apparel maker Vince Holding Corp. on the design, product development and retailing of OVO products.

The deal brings together Drake’s celebrity and the fashion business he has built over the past two decades with Authentic’s global licensing operation. For Drake, the transaction gives OVO new partners as the brand looks to expand while keeping him involved in its future.

“We’re just a couple kids from Toronto who started something we believed in. Here we are 20 years later, same kids with bigger dreams,” Drake said in a statement. “Authentic and VNCE are the perfect partners to help us continue to grow.”

Authentic sees growth potential in Drake’s OVO

Jamie Salter, founder and executive chairman of Authentic, said OVO’s appeal comes from the identity Drake and his team have built around the brand.

“OVO has earned a place among the world’s most influential lifestyle brands because it has always stood for something authentic and unmistakable,” Salter said. “Drake and his team have built something with incredible cultural influence.”

Salter said Authentic sees room to take OVO into new markets and businesses while keeping the elements that have defined the brand.

Authentic has become the second-largest licensor in the U.S., behind The Walt Disney Co., through a mix of celebrity partnerships and brand acquisitions. Its portfolio includes deals involving Kevin Hart, Shaquille O’Neal and David Beckham, as well as brands such as Brooks Brothers, Champion, Sports Illustrated and Care Bears.

OVO adds another type of asset to that portfolio. Unlike many of Authentic’s traditional brand deals, OVO was built directly around Drake’s music career and public profile, giving the company an opportunity to combine entertainment, fashion and retail under one name.

Drake’s music catalog drives his wealth

The transaction also adds to Drake’s business interests outside music. Over the years, the rapper has invested his earnings in companies, businesses and real estate, building a portfolio that extends beyond his recording career.

Drake took home $75 million in total earnings and nearly $50 million in streaming revenue from his eight-album catalog, according to figures cited by Forbes. His catalog ranks second on Forbes’ list of the highest-earning music catalogs, behind Taylor Swift.