Business Services Industry
Swedish Match AB completes acquisition of US marketing company Cigars International Inc
Nordic Business Report, Sept 4, 2007
NORDIC BUSINESS REPORT-4 September 2007-Swedish Match AB completes acquisition of US marketing company Cigars International Inc(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com
Swedish tobacco products manufacturer Swedish Match AB announced on Monday (3 September) that it has completed its previously announced acquisition of the US marketing and sales company Cigars International Inc.
The acquisition was initially announced in August.
Cigars International, based in Bath, Pennsylvania, markets and sells premium and machine-rolled cigars and accessories through direct marketing, two online stores and two retail outlets in Pennsylvania. The company has some 100 employees and annual sales of approximately SEK400m.
Swedish Match said earlier that Cigar International will continue operations as an independent unit.
The terms of the acquisition were not disclosed.
Swedish Match, headquartered in Stockholm, Sweden, manufactures and sells tobacco products and related accessories. The group has some 12,500 employees and annual sales of SEK12.47bn. Swedish Match is listed on the Nordic Exchange in Stockholm.
One British pound (GBP) is worth approximately 13.89 Swedish kronor (SEK).
((Comments on this story may be sent to nbr.feedback@nordicbusinessreport.com))
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