Scandinavian Tobacco Group recently announced the closure of a deal wherein they will acquire the premium pipe tobacco portfolio of Peterson Pipe Tobacco from Kapp & Peterson Limited from Ireland. Specific terms of the acquisition have not been disclosed.
With more than 150 years of heritage, Peterson pipe tobacco is currently sold in 52 countries worldwide. The Peterson brand portfolio also contains signature blends like Sherlock Holmes, Old Dublin and Connoisseur's Choice. The Peterson portfolio of pipe tobacco blends has performed consistently since 2014, with solid volume and revenue growth.
Executive Vice President of Sales & Marketing in Scandinavian Tobacco Group, Christian Hother Sørensen says: “M&A is part of the Scandinavian Tobacco Group DNA and we have a proven track record of achieving synergies when acquiring brands and businesses. We are excited about this small and interesting bolt-on acquisition in our pipe tobacco category. In Peterson Pipe Tobacco we are acquiring a sound portfolio of premium brands that will increase our offering to our consumers – and which we can further develop whilst leveraging our sales and marketing competencies.”