Swedish Match AB (STO:SWMA) has announced that it has signed a letter of intent with Scandinavian Tobacco Group (STG) for the formation of a company that combines STG’s tobacco businesses with Swedish Match’s premium and machine made cigar businesses. The formation of the combined entity will follow a review of Swedish Match.
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The combined entity is expected to have an annual turnover of 670 MEUR, and an EBITDA of 125 MEUR. The expectations are based on full year results for 2008 from both companies. For more information regarding the agreement, contact Lars Dahlgren, Swedish Match President and Chief Executive Officer at +46.8.658.0441 (Office), or +46.70.958.0441 (Mobile).
Swedish Match AB is a Sweden-based company that produces a range of smokeless tobacco products, cigars, pipe tobacco and light products. Its operations are structured into five product areas. Snuff and snus area is marketed under such brands as General, Ettan, Catch, Goteborgs Rape, Grovsnus, Timber Wolf, Red Man, Longhorn and Taxi. Cigars are sold under La Paz, Willem II, Hajenius Oud Kampen, White Owl, Garcia y Vega, Macanudo, Partagas and Punch. Chewing tobacco is produced under such brands as Red Man, Southern Pride and Granger Select. Lights include such brands as Solstickan, Fiat Lux, Swan, Tres Estrellas, Feudor, Redheads and Cricket. Pipe tobacco and accessories comprise Borkum Riff, Half and Half, Best Blend, Boxer, Black & White, Nineteen O’Four and Greve Gilbert Hamiltons Blandning. In September 2009, Swedish Match AB sold its South African operation, Swedish Match South Africa (Proprietary) Limited (SMSA) to Philip Morris International Inc.
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