Swedish Match (SM) said on Friday that it was acquiring the House of Oliver Twist, a privately held Danish smokeless tobacco company, headquartered in Odense, Denmark.
‘House of Oliver Twist (HoOT) has over 200 years of history and is Denmark’s oldest independent tobacco manufacturer,’ SM said in a note posted on its website.
‘The company develops, produces and sells chewing tobacco bits made of processed tobacco strands under the brand Oliver Twist.
‘The company’s main markets are in Scandinavia and certain other EU countries.
‘The company has 33 employees and annual revenues amount to approximately DKK60 million.’
The sale is expected to be completed on April 3.
“Oliver Twist is a good complement to our smokeless portfolio and will provide increased depth to our chewing tobacco offerings, especially in Europe,” said Lars Dahlgren (pictured), SM’s president.
Meanwhile, Michael Drest Nielsen, the present owner of HoOT was quoted as saying that it had been important for his company to find a buyer that shared the HoOT’s vision for smokeless tobacco. “With their resources, competence and knowledge within smokeless tobacco, Swedish Match will give Oliver Twist better opportunities to develop and grow.”
Details of the purchase price have not been disclosed.
Oliver Twist changing hands
