Monoceros Buys Quarter of Bulgartabac
Photo: Tobacco Reporter archive
Monoceros has acquired nearly a quarter of Bulgartabac Holding from Liechtenstein-based Woodford Establishment for an undisclosed amount, reports Seenews.
Headquartered in the Cayman Islands, Monoceros is an early-stage investor and proprietary trading firm, with a portfolio chiefly made up of cryptocurrency and AI technology companies.
As of the end of 2022, Woodford Establishment was Bulgartabac holding’s second largest investor. Other prominent shareholders include UAE-registered Gifted Master, with 24.10 percent stake; UAE-registered Wardia (15.23 percent) and Lichtenstein-registered Stiga Ansalt (14.75 percent).
In 2022, Bulgartabac Holding reported a consolidated net profit of BGN36.1 million ($20.2 million) compared to a consolidated net loss of BGN70.6 million in the previous year, according to the company’s annual report.
Total operating revenue increased to BGN 271.5 million from BGN187.1 million as revenue from sales jumped 40 percent to BGN252.7 million.
In 2017, Bulgartabac Holding sold its biggest cigarette brands to British American Tobacco for more than €100 million ($109.7 million).
The company has since diversified its investments.