Scandinavian Tobacco Group (STG) will acquire Thompson and Co. of Tampa, Inc. (Thompson Cigars) for a purchase price of USD $62 million. The closing of the deal is expected to happen by the end of March 2018.
Thompson Cigars is one of the leading online cigar retailers in the United States. Thompson is a family-owned business, founded in 1915 and based in Tampa, Florida. They have annual net sales of USD $100 million and they employ 185 people. Thompson will provide STG with access to one of the largest and most attractive customer bases for premium cigars, and a retail store with call center, also located in Tampa.
Niels Frederiksen, CEO of Scandinavian Tobacco Group, says: “I am pleased to announce this acquisition which strengthens our position in the online retail channel in the US. Our existing US online retailer Cigars International will in combination with Thompson be able to deliver an unmatched range of premium cigars at the highest level of service to the US consumers. At the same time we foresee significant cost synergies to the benefit of our customers and shareholders.”
CEO of Thompson, Bob Franzblau, said: “Having spent 58 years making Thompson Cigar one of the most respected mail order cigar businesses in the country, it is now time to hand over the reins to a new owner that can continue to serve the long-term interest of the company. Becoming part of Scandinavian Tobacco Group will ensure an exciting future of opportunity for our employees, our customers and our suppliers.”
For investor enquiries: Torben Sand, Head of Investor Relations, firstname.lastname@example.org
For media enquiries: Simon Mehl Augustesen, Director of Group Communications, email@example.com