BackSCANDINAVIAN TOBACCO GROUP A/S COMPLETES ACQUISITION OF LANE, LIMITED
After having received anti-trust approval from the US authorities, Scandinavian Tobacco Group A/S has closed the transaction with Reynolds American Inc. to acquire Lane, Limited, for 205 million USD with effect from 1 March 2011.
On 14 January 2011 it was announced that Scandinavian Tobacco Group A/S (STG) had signed an agreement with Reynolds American Inc. for the acquisition of Lane, Limited, (Lane). With the completed acquisition STG has strengthened its position as a world leader within pipe tobacco and gained a leading position within fine-cut/RYO tobacco in the US.
With the acquisition of Lane STG reaches an estimated annual turnover of approximately 800 MEUR, and sales volumes of more than 2.5 billion cigars, 2,175 tons of pipe tobacco, 3,170 tons of fine-cut/RYO tobacco, and 450 million little cigars. STG has approximately 10,000 employees globally.
“We are very pleased to have completed the deal. With Lane we can establish a mass-market sales force in the US, which will enable us to not only expand the Lane business but also support other products within cigars, pipe tobacco, and fine-cut/RYO tobacco. Furthermore, we see great potential for the Captain Black little cigars and pipe tobacco in several markets outside the US,” says Anders Colding Friis, CEO, Scandinavian Tobacco Group.
For further information, please contact:
Scandinavian Tobacco Group A/S
CEO Anders Colding Friis (+45) 3955 6200
Further information about Scandinavian Tobacco Group A/S is also available at www.st-group.com.
ABOUT SCANDINAVIAN TOBACCO GROUP
- a world leading manufacturer of cigars and traditional pipe tobacco
- approx. 8,200 employees in the Dominican Republic, Honduras, Nicaragua, Indonesia, Europe, New Zealand, Australia, Canada and the US
The Group’s brand portfolio contains more than 200 international, regional and local tobacco brands, including the cigar brands Café Crème, La Paz, Henri Wintermans, Macanudo, CAO, Partagas (US) and Cohiba (US). Pipe tobacco brands include Captain Black, Erinmore, Borkum Riff and W.Ø. Larsen, while leading fine-cut tobacco brands include Bugler, Break, Escort, Bali Shag and Tiedemanns.
The Group is ultimately owned by two Danish foundations (51%) – the Augustinus Foundation and Det Obelske Familiefond – and by Swedish Match (49%). Both Danish foundations have been active in the tobacco industry for more than 250 years. Swedish Match is a publicly owned company listed on the Stockholm Stock Exchange.
Read more: www.st-group.com.
Scandinavian Tobacco Group A/S
Sydmarken 42
DK-2860 Søborg
Denmark
CVR 31 08 01 85
