British American Tobacco Takes Over Croatia’s Tvornica Duhana Rovinj
- by croatiaweek
- in Business
British American Tobacco (BAT) has acquired Croatia’s, and the region’s, leading cigarette manufacturer – Tvornica duhana Rovinj (TDR)…
BAT and Adris Grupa executives signed the deal this weekend in London, reports daily Jutarnji list. The transaction, after liabilities are deducted, will total 505 million euros.
Earlier this year Adris Grupa shareholders approved the board’s plans to shift focus away from the tobacco business. TDR’s main cigarette brands include Ronhill, York and Walter Wolf. The company has around 1,000 staff in branches in Croatia, Bosnia and Herzegovina, Germany, Kosovo, Macedonia, Montenegro, Serbia, and Slovenia. Its plant, located near the coastal town of Rovinj, can produce around 20 billion cigarettes per year.
BAT will also takeover companies in TDR’s Tobacco Strategic Business Unit, including Istragrafika, Hrvatski duhani and iNovine.
