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