- (PLX AI) - Swedish Match announces planned separation of its cigar business.
- • Swedish Match to separate its cigar business via a spin-off to shareholders and subsequent listing on major U.S. exchange
- • Swedish Match to completely exit the manufacturing of combustible tobacco products
- • Swedish Match separation is expected to be completed during the second half of 2022, at the earliest
- • Says smokefree products such as nicotine pouches and snus will play the leading role in building a stronger Swedish Match in line with societal trends
- • The cigar business has solid positions in both the natural leaf and homogenized tobacco leaf (HTL) segments of the US mass market cigars category and holds the number two market position with approximately 23 percent of the market measured by number of sticks
- • Goldman Sachs is acting as exclusive financial advisor to Swedish Match on the intended spin-off of its cigar business
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