British American Tobacco buys cigarette brands from Bulgartabac | Progresiv

British American Tobacco (BAT) said it had agreed with Bulgarian cigarette maker Bulgartabac to acquire some of its leading cigarette brands in a deal worth more than 100 million euros.

BAT said the acquisition of the Victory, Eva Slim and GD brands would help expand its market share in Bulgaria to 40 percent from 12 percent and said the deal would also include retail and distribution assets in the country and in Bosnia.

The deal is subject of anti-trust approvals and is expected to be concluded by the end of June this year, the company said in a statement.
BAT-Bulgaria is to become one of the five biggest tax payers in Bulgaria, immediately opening over 100 new job positions in production and another 1000 in the sphere of distributions. (www.reuters.com)