The Scandinavian Tobacco Group A/S has agreed on the terms and conditions for the acquisition of substantially all assets of Alec Bradley Cigar Distributors Inc. and associated companies (“Alec Bradley”), according to a company press release.

Alec Bradley is a family-owned business established in 1996 by entrepreneur Alan Rubin with approximately 30 full-time employees in the US and Canada. In 2022, Alec Bradley sold almost 10 million cigars – an increase of 5 per cent versus 2021 – primarily in the US and Canada, but also in international markets. According to the press release, the transaction is valued at USD 72.5 million on a debt and cash free basis (the Enterprise Value) and is expected to be closed shortly. The acquisition will be fully financed by cash at hand and debt.
By acquiring the Alec Bradley brand the Scandinavian Tobacco Group is taking a further step on its way to becoming the undisputed and sustainable global leader of cigars.
“The acquisition of the Alec Bradley cigar business is another important step toward our ambition of becoming the undisputed and sustainable global leader in cigars.  Through this bolt-on acquisition, we will expand our portfolio of highly regarded premium cigars in the US and international markets, delivering material value to our shareholders. We will also leverage the Alec Bradley brand portfolio to deliver increased excitement to the handmade cigar category through product innovation and brand activations, benefitting both the cigar enthusiasts and our trade partners,” said CEO of Scandinavian Tobacco Group A/S, Niels Frederiksen.