Announced this morning by Scandinavian Tobacco Group (STG), the company will be acquiring Alec Bradley Cigar Co. and its substantial cigar portfolio.
The transaction is set to close by Feb. 28th, and has been rumored to be valued at $72.5 million.
STG has been known for its major acquisitions throughout the premium cigar industry, most recently including Room101 Cigars in June 2022. Other such acquisitions have included CAO and La Gloria Cubana (among many others) over the years.
Alec Bradley was founded by Alan Rubin in 1996 and has since grown to become one of the top companies in the premium cigar business, with well-known lines such as Black Market, Prensado, Fine & Rare, and the more-recent Magic Toast and Double Broadleaf.
Originally posted on February 22, 2023 @ 10:17 am