Japan Tobacco Group said it has completed the acquisition of Philippines’ Mighty Corporation.
JT Group said in a statement that the acquisition is in line with JT Group’s geographic expansion for sustainable growth.
It also provides a nationwide distribution network in the Philippines and strengthens the Group’s brand portfolio with the addition of local brands such as “Mighty” and “Marvels”.
The total amount of the acquired assets is PHP 46.8 billion (approximately USD 936 million).
The transaction will not have any material impact on JT Group’s consolidated performance for
the fiscal year 2017.