site.btaBritish American Tobacco Acquires Leading Bulgartabac Brands

British American Tobacco Acquires Leading Bulgartabac Brands

Sofia, April 12 (BTA) - British American Tobacco (BAT) is purchasing leading Bulgartabac brands, the Bulgarian company said on Wednesday. The value of the transaction exceeds 100 million euro. The acquisition will promote BAT's further expansion on the market, where it has been operating for 25 years now. It will give it a leading market share of 40 per cent, which is a considerable increase compared to the current 12 per cent. The acquisition will also include assets for distribution and retail trade in Bulgaria and the broader Adriatic region.

BAT-Bulgaria will become one of the five biggest tax-payers in Bulgaria creating over 100 new jobs and ensuring another 1,000 in the distribution sector. The Bulgarian brands, such as Victory, Eva Slim and GD, will be transferred to the BAT portfolio. The acquisition also includes a full ownership of the distribution company, Express Logistics and Distribution EOOD.

The proposed acquisition is an object to antitrust approvals and is expected to be completed by the middle of 2017.