Imperial Completes $1.44 Billion Sale Of Premium Cigar Business

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Posted on Oct 29, 2020

By David Savona

 

Some of the premium cigar industry’s most prized assets officially have new owners. Today, Imperial Brands PLC completed the sale of its premium cigar business to an investment consortium for 1.225 billion euros ($1.44 billion). The sale includes a vast array of cigar brands, factories and companies: 50 percent of Cuba’s Habanos S.A.; Tabacalera USA, the company that makes and markets such non-Cuban cigar brands as MontecristoRomeo y Julieta and H. Upmann; a pair of cigar factories, including one that’s considered the world’s largest; and JR Cigars, one of the world’s biggest cigar retail chains. It’s one of the biggest sales the cigar industry has ever seen.

It’s also complex, and was split into two transactions. The U.S. division was acquired by a company named Gemstone Investment Holding Ltd., which bought Tabacalera USA, its assets Altadis USA, which is responsible for the distribution of premium cigars in the United States, online retailers JR Cigar, Serious Cigars and Cigars.com, plus the Casa de Montecristo retail chain.

A company named Allied Cigar Corporation S.L. acquired the remaining premium cigar assets of Imperial, which includes half of Cuba’s Habanos S.A., the company that exports all of Cuba’s cigars.

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