Scandinavian Tobacco Group (STG), the parent company of General Cigar, Forged Cigar Company, and Cigars International, announced today that the company has agreed to acquire the Alec Bradley cigar business for about $72.5 million. The transaction is expected to close on or about February 28, 2023.
Alec Bradley was founded by Alan Rubin in 1996 and has grown to be one of the larger cigar companies in the business. Since it’s formation, Rubin’s sons, for which the company was named after, Alec Rubin and Bradley Rubin, have also come to work for the company and create their own lines of cigars, as well as a brand offshoot Alec & Bradley. There is no word yet on how this acquisition will affect them or their brands. Alec Bradley’s 30 full-time employees in the U.S. and Canada will be integrated into STG. It is unknown yet if Alec Bradley products will be distributed by General Cigar Co. or Forged Cigar Co.
The acquisition of the Alec Bradley cigar business is another important step toward our ambition of becoming the undisputed and sustainable global leader in cigars. Through this bolt-on acquisition, we will expand our portfolio of highly regarded premium cigars in the US and international markets, delivering material value to our shareholders. We will also leverage the Alec Bradley brand portfolio to deliver increased excitement to the handmade cigar category through product innovation and brand activations, benefitting both the cigar enthusiasts and our trade partners.
CEO of Scandinavian Tobacco Group A/S, Niels Frederiksen
This news comes less than a year after Scandinavian Tobacco Group acquired another well-known, albeit smaller, cigar company Room101 brand in June of 2022.