GENERAL CIGAR ACQUIRES TORAÃ‘O BRANDS
Richmond, VA — General Cigar Company today announced the acquisition of the ToraÃ±o Family Cigar Company brands. This acquisition will strengthen General Cigarâ€™s market position and enhance the companyâ€™s product mix to deliver greater value and innovation to its retail customers and consumers. It will also allow General Cigar to further expand its exceptional portfolio of leading brands by offering opportunities within the companyâ€™s international footprint, while presenting significant growth potential in the domestic market.
Spanning almost 100 years, ToraÃ±o Cigars has a vast history that encompasses every area of the cigar industry, from growing to manufacturing, to ultimately the creation of their own brands. Production of ToraÃ±oâ€™s portfolio including the popular Exodus, Reserva, Casa ToraÃ±o, Vault and Master Collections will remain unchanged.
Dan Carr, president of General Cigar said, â€œThe acquisition of the ToraÃ±o brands represents an opportunity for us to strategically expand our portfolio. Our companies have been intertwined for over 50 years and I look forward to working with Charlie ToraÃ±o on plans to celebrate the upcoming centennial and to carry forward the vision, passion and innovation that is synonymous with the ToraÃ±o name while also leveraging our resources to bring even greater excitement and reach to our trade partners and consumers.â€
â€œThere is a long-standing and proud history of partnership between General Cigar and ToraÃ±o, dating back to my familyâ€™s exodus from Cuba. There is no other company that I would rather have continue my familyâ€™s legacy, and I look forward to seeing the ToraÃ±o brands prosper under General Cigarâ€™s expertise,â€ said ToraÃ±o president Charlie ToraÃ±o.
The transaction will take effect on September 11, 2014.
About ToraÃ±o Family Cigar Company
Headquartered in Miami, ToraÃ±o Family Cigar Company was established as a leaf growing company in Cuba and spans over four generations. Following the Cuban revolution, the ToraÃ±o family grew tobacco in the Dominican Republic and later began manufacturing handmade cigars across Central America. Since the 1990s, ToraÃ±o developed its own portfolio of brands, best known for having complex blends featuring tobacco from many different countries of origin and taste profiles.