On Wednesday, STG (Scandinavian Tobacco Group) announced that they had formed an agreement to acquire online cigar retailer Thompson and Co. of Tampa, Inc. The sale reportedly amounts to 62 million US dollars, with the deal expected to close near the end of March, 2018.
Thompson was founded in 1915, making it the oldest mail order cigar company in the US. The company was first located in Key West, FL but now resides in Tampa, FL. According to a press release from STG, Thompson currently produces annual net sales of 100 million (US), using a staff of 185 employees. In the sale, STG will gain access to the company’s multiple online entities, customer base, retail space, and a call enter in Tampa.
STG currently produces and sells 3 billion cigars annually under subsidiaries such as General Cigar Company and online retailer Cigars International. The company expects to bring Thompson’s margins to a level on par with Cigars International over time.