Following the completion of the statutory works councils consultation process in the Netherlands and clearance from the relevant competition authorities, Scandinavian Tobacco Group (STG) has acquired Royal Agio from Highlands Beheer B.V.
Royal Agio is based in The Netherlands, and with key brands such as Mehari’s, Panter and Balmoral, it will provide Scandinavian Tobacco Group access to strong market positions in France, Belgium and The Netherlands and s improves the position in other key cigar markets such as Spain and Italy.
Read more: What are the wholesale plans of Scandinavian Tobacco Group?
STG chief executive Niels Frederiksen, said: “I am very pleased that we have completed the acquisition of Royal Agio, which significantly strengthens our position in several key machine-made cigar markets in Europe and enables us to deliver an even more attractive range of cigars of the highest standards to our consumers. The acquisition leaves Scandinavian Tobacco Group as a bigger, more competitive and more profitable company better suited to pursue growth and create value for our shareholders.”
