Scandinavian Tobacco Group (STG) announced that the company has agreed to acquire the Alec Bradley cigar business for $72.5 million. The transaction is expected to close on or about February 28, 2023.
“The acquisition of the Alec Bradley cigar business is another important step toward our ambition of becoming the undisputed and sustainable global leader in cigars.” “Through this bolt-on acquisition, we will expand our portfolio of highly regarded premium cigars in the U.S. and international markets, delivering material value to our shareholders.”
Founded by Alan Rubin in 1996, the Alec Bradley cigar business is a leading player in the premium cigar space. The brand stands for critically-acclaimed cigars, and the portfolio includes Prensado, Kintsugi, Alec Bradley Double Broadleaf, Fine and Rare, Black Market, and other brands.
Scandinavian Tobacco Group’s most recent acquisition was of the Room101 brand in June 2022. The company actively seeks opportunities to expand its strong portfolio with the aim of becoming the undisputed global and sustainable leader in cigars.