Sunday, December 09 2007
Richmond, VA — General Cigar has announced that it has acquired certain assets of
Havana Honeys Holdings LLC, a privately-held company that manufactures and markets flavored cigars under the Havana Honeys® brand. Included among the acquired assets are the Havana Honeys trademark as well as inventory and related assets to support the premium cigar segment of Havana Honeys. Terms of the purchase have not been disclosed.
Daniel Nuñez, chief operating officer of General Cigar explained, "The company's purchase of Havana Honeys represents an opportunity to strengthen our position within the growing flavored segment of the premium cigar category. The acquisition of such a prominent brand is a great complement to our existing portfolio."
Under the agreement, General Cigar will assume the production, marketing and selling activities associated with Havana Honeys' flavored premium cigars, one of the three business segments under the brand. Joe Gold, the founder of Havana Honeys will retain the marketing and selling activities associated with the two other business segments of Havana Honeys: the "little cigar" business and operation of the Havana Honeys retail outlet at McCarran International Airport in Las Vegas.
"I am pleased that General Cigar has acquired the Havana Honeys brand, which recently celebrated its 10th anniversary," Joe Gold commented. "While Havana Honeys is enormously popular, General Cigar has the sales and marketing muscle necessary to bring the brand to new heights. I look forward to watching Havana Honeys grow under General Cigar's expertise."
General Cigar currently participates in the flavored premium cigar segment through Kahlúa Cigars Delicioso by Drew Estate and Helix Remix® cigar brands.
Established in 1997, Havana Honeys is one of the best-selling premium flavored cigar brands in the U.S. Best known for its unique collection of flavor profiles and innovative packaging, Havana Honeys is largely credited with creating the demand for flavored cigars in the premium category.
The acquisition will have no significant impact on the Swedish Match Group. ÂŁ
