Scandinavian Tobacco Group (STG) has announced that it has acquired a majority stake in Moderno Opificio del Sigaro Italiano (MOSI), an Italian cigar company.
The terms of the deal have not been disclosed. A press release says that MOSI has 9 percent of the “traditional machine-rolled” market in Italy. Cesare Pietrella founded MOSI in 2013, the company has 40 employees and produces cigars in Orsago, Italy.
“We are excited about this acquisition,” said Jurjan Klep, vp of Europe Branded division for STG, in a press release. “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.”
STG is the parent company of Cigars International, General Cigar Co., Thompson Cigar, Forged Cigar Co., Agio, and other businesses throughout the U.S. and international markets. The company’s stock, which is traded on the NASDAQ Copenhagen, seems unaffected by the news. The stock is currently trading at DKK 123.4, the same price that it opened at earlier today.