M&A update: Scandinavian Tobacco Group

According to the press-release posted on their website, Scandinavian Tobacco Group just became the second largest cigar company in the world, after merging with Swedish Match. The new company keeps the name Scandinavian Tobacco Group and will be producing over 2.5 billion cigars every year. CAO is the most well-known brand among the ones in the company’s portfolio.

“After months of preparations we are very pleased now to be able to start the integration of the two businesses. The new Scandinavian Tobacco Group is a truly global company and we have an excellent basis in the combined brand portfolio to grow even further and increase profitability,” says Anders Colding Friis, CEO of the former STG and CEO of the new Scandinavian Tobacco Group which is headquartered in Copenhagen, Denmark.