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Davidoff Group Sells Subsidiary
Posted: July 1, 2013
The Oettinger Davidoff Group, the Switzerland-based company that owns the Davidoff, Zino Platinum, Camacho and Avo cigar brands, announced that it has sold its cigarette vending machine subsidiary for an undisclosed amount.
ZOPAG AG, which has overseen the distribution of Davidoff's cigarette vending business for many years, is now in the hands of Groupe Margot Tabac, another Swiss company that has been in the cigarette vending business for some time.
"This step allows us to continue focussing on our core businesses," said Hans-Kristian Hoejsgaard, president and chief executive officer of the Oettinger Davidoff group, in a press release.
News of the sale comes shortly after Davidoff announced that its cigar sales were up in 2012.
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