UK-based British American Tobacco has agreed to acquire the tobacco assets of Bosnia and Herzegovina’s Fabrika Duhana Sarajevo (FDS) from Austria-based CID Adriatic Investments (CID), according to a Reuters story citing a joint statement by BAT and CID.
‘BAT will acquire all FDS tobacco brands and retail business (Tobacco Press) from FDS,’ the statement said.
‘BAT will also enter into a contract manufacture agreement with FDS for the continued production of the acquired brands by FDS in Sarajevo.’
CID will develop independently the non-tobacco parts of FDS, which has banking and real estate operations.