Premium vodka Ciroc got the Diddy seal of approval, joining the entrepreneur's multimillion-dollar music, clothing and fragrance empire.
Acevedo claimed Combs screamed, "I'll kill you, punk," before slugging him twice in the face. Some witnesses said the men traded insults over Acevedo's ex-girlfriend, who is dating Combs.
"I don't fight over girls," the star said at the Ciroc launch, his first public appearance since the spat. "I am a human being. I am going to get into an argument at times, but I didn't punch anybody."
Acevedo told cops Combs attacked him at a party in SoHo's Kiosk nightclub. Police sources have said they expect the pair will settle privately.
His comments came after he unveiled his multiyear deal with Ciroc's maker, Diageo.
He is the latest rap star-turned-entrepreneur to get into the lucrative drinks market. Jay-Z had a deal with Budweiser and Queens rapper 50 Cent endorsed VitaminWater.