Swedish Match acquires Oliver Twist
Swedish Match acquires House of Oliver Twist A/S, a privately held Danish smokeless tobacco company, headquartered in Odense, Denmark.
House of Oliver Twist A/S has over 200 years of history and is Denmark’s oldest independent tobacco manufacturer. The company develops, produces and sells chewing tobacco bits made of processed tobacco strands under the brand Oliver Twist. The company’s main markets are in Scandinavia and certain other EU countries. The company has 33 employees and annual revenues amount to approximately 60 MDKK. The closing date of the transaction is expected to be April 3.
Lars Dahlgren, President and CEO of Swedish Match says: “Oliver Twist is a good complement to our smokeless portfolio and will provide increased depth to our chewing tobacco offerings, especially in Europe.”
In commenting about the transaction, Michael Drest Nielsen, present owner of House of Oliver Twist A/S says: ”It was important to us to find a buyer who shares the same vision for smokeless tobacco as us. With their resources, competence and knowledge within smokeless tobacco, Swedish Match will give Oliver Twist better opportunities to develop and grow.”
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
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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 areas 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 16,101 MSEK for the twelve month period ending 31 December 2017. 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.