Sell-side advisory

Exclusive financial advisor to Imperial Brands PLC on the sale of its worldwide premium cigar division

AZ Capital has advised Imperial Brands PLC on the sale of its worldwide premium cigar division (“PCD”) for a total consideration of €1,225 MM.

PCD is the global leader in premium hand-made cigars, distributing to 150 countries all around the world. It is the exclusive distributor of the 27 luxury Cuban brands such as Montecristo, Cohiba and Romeo y Julieta. In addition, PCD is present in the US, the largest premium cigar market in the world, where it sells non-Cuban cigars through three different channels: wholesale, e-commerce, and retail (through its own premium cigar store network).

PCD comprises assets purchased as part of Imperial’s acquisition of Altadis in 2008, and the disposal consists of two transaction perimeters to two different buyers: (i) US, which includes the business’ premium cigar operations in the US; and (ii) Rest of World, which includes four JVs with the Cuban government, other international sales of premium cigar products and two premium cigar manufacturing facilities in Honduras and Dominican Republic.

Imperial Brands is a global consumer goods company borne out of a strong tobacco heritage. It manufactures, distributes, and sells a comprehensive range of cigarettes, fine cut and smokeless tobaccos, papers, and cigars. The company’s tobacco brands are sold in around 160 markets worldwide.

Imperial Brands is listed on the London Stock Exchange and is part of the FTSE100.

Sector: Consumer Goods and Retail