World’s Biggest Cigar Company Changes Owners
A mysterious consortium of investors pays $1.38 billion for Imperial Brands’ premium cigar division.
Fernando Domínguez will remain president and CEO of Tabacalera, one of the world’s largest cigarmakers.
The rumors swirled nonstop for over a year, ever since the United Kingdom’s Imperial Brands announced it would divest its premium cigar divisions, including Tabacalera, the partner in Cuba’s Habanos S.A. cigar monopoly, and Tabacalera USA. There was word of bidders from Russia, the Middle East, Mexico, Spain, the United States and China. At one point, the Coronavirus rampage had people speculating that any deal would collapse and the sale would be delayed.
On April 27, 2020, Imperial announced the sale to two corporate entities, Gemstone Investment Holding Ltd., which agreed to acquire the U.S. subsidiary for approximately $208 million, and Allied Cigar Corp., which …
