Press releaseSep 1, 1999
El Credito Cigars acquisition completed
Swedish Match AB has completed the
previously announced acquisition of El Credito Cigars to Swedish
Match.
The purchase includes the highly
respected brand La Gloria Cubana, along with other brands and
production units in the Dominican Republic and in Miami, Florida,
with a total of 350 employees. Ernesto Perez-Carillio, President
of El Credito Cigars, will continue as President as well as
assist Swedish Match in developing its premium cigar operations
in the global market.
With El Credito Cigars and the
earlier acquisition of the "mass market" cigar
operations of General Cigar, all price segments in the North
American market are now being covered and Swedish Match is firmly
established as one of the leading cigar companies in the world.
Swedish Match is an
international group with its head office in Stockholm. The
company produces an extensive range of tobacco products, matches
and disposable lighters, which are sold in 140 countries. The
company’s total sales during 1998 amounted to approximately
MSEK 8,200. The Swedish Match share is listed on the Stockholm
Stock Exchange (SWMA) and NASDAQ (SWMAY)
For further information,
please contact:
Lennart Sundén, President and Chief Executive Officer
office 08-658 01 75
Sven Hindrikes, Senior Vice President and office 08-658 02 82
Chief Financial Officer mobile 070-567 41 76
Bo Aulin, Senior Vice President, Corporate Affairs office 08-658
03 64
mobile 070-558 03 64
The following files are available for download
(DOC, 56 kB)
(PDF, 70 kB)