Imperial Tobacco Group today announced that, subject to clearance from the German Federal Cartel Office, it has acquired the worldwide Davidoff cigarette trademark from Tchibo Holding for a cash consideration of € 540 million (£ 368 million).

Imperial Tobacco Group has been the long term licensee of the worldwide Davidoff cigarette trademark since the acquisition of Reemtsma in 2002.
Gareth Davis, chief executive of Imperial Tobacco Group, said:  “Davidoff is our key international strategic premium cigarette brand and an important growth driver for the business. We have achieved considerable success with Davidoff cigarettes, increasing global volumes in the last four years. As well as significantly enhancing our brand equity this acquisition provides greater flexibility to develop the brand, enabling us to increase investment and accelerate its international growth.
I am also pleased that the provisions of the acquisition enable us to maintain our excellent relationship with the Oettinger Davidoff Group, owner of the worldwide Davidoff trademark for tobacco products other than cigarettes." (ci)