Skip to main content

Scandinavian Tobacco Group A/S acquires majority stake in Italian cigar company

Written by Customer Service on . Posted in Public Companies.

Press release

 

                                                                                 Copenhagen, 18 November 2021

Scandinavian Tobacco Group A/S acquires majority stake in Italian cigar company

Scandinavian Tobacco Group A/S has today completed the acquisition of a majority stake in Moderno Opificio del Sigaro Italiano, MOSI – an Italian cigar company with approximately 40 employees and production facilities in Orsago in the northern part of Italy.

MOSI was founded in 2013 by Mr. Cesare Pietrella. The company produces high quality traditional Italian machine-rolled cigars with a blend of Italian and American Kentucky tobaccos, grown on plantations in Northern Italy and in the United States. With a small exclusive offering under the brand “Ambasciator Italico”, MOSI has gained a market share of approximately 9% in Italy for traditional machine-rolled cigars.  

The acquisition is a testament to Scandinavian Tobacco Group’s continued commitment to M&A and in line with it’s strategy “Rolling Towards 2025”. It strengthens the company’s share of the Italian machine-rolled cigar market – one of the largest cigar markets in Europe – and further grows its leadership in the machine-rolled cigar category in Europe.

Jurjan Klep, Senior Vice President of the Europe Branded division in Scandinavian Tobacco Group says: “We are excited about this acquisition. With a majority stake in MOSI we are acquiring modern cigarmaking craftsmanship and a premium brand that will increase our offering to our consumers and the opportunity to take further market share in an important market. This is our 5th acquisition since 2016 and I look forward to further cementing our proven track record of creating value from acquisitions of brands and businesses.”

Mr. Cesare Pietrella, founder and President of MOSI says: “Together with Scandinavian Tobacco Group, MOSI and Ambasciator Italico are well positioned for growth and the acquisition will invigorate the Italian cigar market and benefit Italian cigars smokers, customers and tobacco farmers”.

For further information, please contact:
For media enquiries: Simon Mehl Augustesen, Director of Group Communications, phone: +1 484 379 8725 or simon.augustesen@st-group.com  

Attachment

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.