Swedish Match to Acquire Majority Share in Gotlandssnus
Swedish Match has today signed an agreement to acquire a majority share in Gotlands Snus AB, a privately held Swedish company, located in Romakloster, Sweden, on the island of Gotland.
Founded in 2002, Gotlandssnus, with annual sales of approximately 50 MSEK, develops, produces, and sells both snus and nicotine-free products, with sales in Sweden, the US, Asia, and parts of Europe. The company sells popular brands such as Jakobsson’s snus and Qvitt (nicotine and tobacco free pouches). Gotlandssnus produces approximately 4 million cans per year. The production facility and head office are located in Romakloster, in the heart of Gotland. The company has approximately 40 employees.
Lars Dahlgren, President and CEO of Swedish Match says:
“Under the leadership of its founder, Henrik Jakobsson, Gotlandssnus has successfully grown its market presence through its portfolio of premium, high-quality snus and tobacco/nicotine free products by leveraging the unique heritage of the island of Gotland. We look forward to further developing this business together with Henrik and his team, and to enhancing our presence with production in Gotland. Gotlandssnus is an excellent complement to our current portfolio and will provide increased depth to our offerings.”
In commenting about the transaction, Henrik Jakobsson, founder of Gotlandssnus says:
“We are delighted to have a partner in Swedish Match, and look forward to continued growth with our products, produced in Gotland, for snus lovers and those who want to have tobacco and nicotine alternatives.”
Henrik Jacobsson will remain as the managing director of Gotlandssnus and also as a minority shareholder. The transaction is planned to be completed on August 22.
Details of the purchase price have not been disclosed.
Lars Dahlgren, President and Chief Executive Officer
Office +46 8 658 0441
Thomas Hayes, Senior Vice President and Chief Financial Officer
Office +46 8 658 0108
Emmett Harrison, Senior Vice President Investor Relations and Corporate Sustainability
Office +46 8 658 0173
Swedish Match develops, manufactures, and sells quality products with market-leading brands in the product segments Snus and moist snuff, Other tobacco products, and Lights. Production is located in seven countries, with sales concentrated in Scandinavia and the US. The Group’s global operations generated sales of 12,142 MSEK for the twelve month period ending June 30, 2018. The Swedish Match share is listed on Nasdaq Stockholm (SWMA).
Swedish Match’s vision is a world without cigarettes. Some of its well-known brands include: General, Longhorn, White Owl, Red Man, Fiat Lux, and Cricket.
Swedish Match AB (publ), SE-118 85 Stockholm, Sweden
Visiting address: Sveavägen 44, 8th Floor. Telephone: +46 8 658 0200
Corporate Identity Number: 556015-0756
SOURCE Swedish Match