STG Completes Acquisition Of Alec Bradley
Scandinavian Tobacco Group A/S (STG) announced this afternoon that the company has completed its $72.5 million acquisition of Alec Bradley Cigar Distributors. The deal includes all of Alec Bradley’s cigar brands, which are made under contract by other cigar companies. The brands include Alec & Bradley Kintsugi, Alec Bradley Double Broadleaf and Alec Bradley Prensado, which was named Cigar Aficionado’s Cigar of the Year for 2011. STG said the deal will be effective as of tomorrow, March 1.
This transaction moved fast. It was less than one week ago, February 22, when STG announced it had agreed to acquire Alec Bradley, which was created by Alan Rubin in 1996. The company had sales of $25 million, according to STG, and makes some 10 million cigars a year.
STG said that Alec Bradley founder Alan Rubin will work with STG as an advisor on the Alec Bradley brand “for the foreseeable future,” reporting directly to Régis Broersma, president of STG’s North America and Rest of World division. While STG went on to say that “it is anticipated that Alec Rubin and Bradley Rubin will be part of the STG U.S. handmade cigar team moving forward,” there was no definitive news as to whether the two would remain with the company.
Corporate giant STG is one of the world’s largest cigar companies, with revenues of around $1 billion and a host of cigar brands that include Macanudo and CAO; the non-Cuban versions of Hoyo de Monterrey, Punch, Cigars International, the leading Internet retailer of cigars.
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