Late last week, chatters regarding the sale of Oliva Cigar Co. to Scandinavian Tobacco Group (STG), parent of General Cigar Co., began to pick up.
Earlier today, The Cigar Authority went on record stating, “Oliva Cigar Company Sold To General Cigar.” That rumor has been denied by both Oliva and General.
“Contrary to rumor and speculation a purchase of Oliva cigar by General Cigar is not imminent,” said Cory Bappert, vp of sales of Oliva, in a statement to halfwheel.
Over the weekend, Régis Broersma, president of General Cigar Co., told halfwheel the company was not buying Oliva. That was repeated by Craig Reynolds, evp of global handmade cigar businesses for STG, who indicated the company was not in any negotiations with Oliva at this time.