Swedish Match To Acquire Remaining Ownership In General Cigar..

April 22, 2005 - Swedish Match To Acquire Remaining Ownership In General Cigar.. STOCKHOLM, Sweden -- Swedish Match (STO:SWMA) announced on February 22, 2005 that it has agreed in principle to acquire all outstanding shares of General Cigar currently owned by the Cullman family. Under this transaction, Swedish Match will own 100 percent of General Cigar. The transaction is expected to be consummated on or before April 1st (actual date April 22, 2005). Currently, Swedish Match owns 64 percent of General Cigar, while 36 percent of the company is owned by the Cullman family. General Cigar produces the number one selling premium cigar in the United States, Macanudo, and several other leading premium brands in the US, including Partagas, Punch, and Hoyo de Monterrey. The company traces it roots to 1906, and has been managed by the Cullman family since 1961. Recognised as a world leader in the premium cigar business, General Cigar is the market leader in the US, and is one of the leading growers of high-quality Connecticut shade wrapper. In 1994 United State Tobacco (UST) transferred its cigar business, Tampa-based U.S. Cigar Sales, to Swedish Match. U.S. Cigar Sales owned and operated a premium factory in Danlí, Honduras, producing and marketing the Don Tomas, Astral, and Helix brands, among others. During 2006, Swedish Match acquired two well-known cigar brands: Hajenius and Oud Kampen. These well-reputed cigars are sold mainly in the Netherlands, Belgium and Germany.