Altadis USA Sells Pipe Tobacco Division
Mac Baren Tobacco Co., a 125-year-old pipe tobacco company based in Denmark, has reached an agreement to purchase the pipe tobacco division located in Richmond, Va. The division will now operate under its original name, Sutliff Tobacco Co., which was founded in 1849 -- making it one of the oldest pipe tobacco companies in the United States.
Sutliff Tobacco will continue to operate out of its Richmond factory by importing and distributing Mac Baren products in the Western Hemisphere.
While the purchase price was not disclosed, the acquisition is expected to be completed later this spring.
Fort Lauderdale, Fla.-based Altadis USA and its service company, Commonwealth-Altadis Inc. are both units of Imperial Tobacco Group plc.
"This acquisition continues to build on Mac Baren Tobacco Co.'s considerable reputation as a world leader in the pipe tobacco industry," said Paul Creasy, current general manager, who will continue to lead the business as president.
"This acquisition will not only strengthen the pipe tobacco portfolio of Sutliff Tobacco, but also will bring to the U.S. market Mac Baren Tobacco Co.'s significant knowledge and expertise, strength, commitment and leadership in pipe tobacco," he concluded.