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JT finalises acquisition in Bangladesh

29 Nov 2018. Japan Tobacco (JT) has announced that it has finished the acquisition of the tobacco business of the Akij Group, which is based in Bangladesh, according to a company press release.

JT began the acquisition of the Bangladeshi group’s tobacco business in August 2018. With the acquisition, JT said it would become the second largest tobacco company in Bangladesh. The move also increases the company’s operations in developing markets and will support the companies “sustainable profit growth objectives in the mid- to long-term,” the company said.

In the announcement, JT said that the acquisition would not have any “material impact on the JT Group’s consolidated performance for the fiscal year 2018.”