Additional Information


Content

B&H maker Gallaher bought by Japan Tobacco for £9.6bn

LONDON - British tobacco firm Gallaher, makers of the Benson & Hedges and Silk Cut cigarette brands, has been bought by Japan Tobacco for $19bn (£9.6bn).

Share this article

The board of the firm has accepted a cash offer of £11.40 a share from the rival firm, maker of the Camel, Mild Seven and Winston cigarette brands.

John Gildersleeve, chairman of Gallaher, said: "Our successful growth strategy has enabled Gallaher to achieve a significant position in the global tobacco market. With the hard work and commitment of all our employees, we have been particularly successful in a number of key countries and have delivered substantial returns for Gallaher's shareholders.

"The offer from JT reflects Gallaher's achievements and provides shareholders with the ability to realise their investment for cash at an attractive value, and creates an opportunity for the business as a whole.

"The importance of scale, a broad geographic coverage and a leading and diversified brand portfolio are becoming increasingly apparent."

Before the acquisition, JT was the world's third largest tobacco company shipping tobacco products to 120 countries.

Gallaher has an estimated 12,000 employees worldwide and is the fifth largest cigarette manufacturer.

The Gallaher brand portfolio also includes the Mayfair, Ronson and Sovereign cigarettes, Hamlet cigars, and handrolling tobacco including Old Holborn and Amber Leaf.

If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the Forum.

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Additional Information

Latest jobs Jobs web feed

FROM THE BLOGS

The Wall blogs

Back to top ^