Japan Tobacco Inc., said it has completed the acquisition of the Donskoy Tabak (DT) companies yesterday Russian local time.
The companys said in a statement that the agreement to acquire the companies was announced in a press release1 on March 16, 2018.
The acquisition of DT enables the JT Group to complement its existing product portfolio with DT’s value brands and expand its distribution network through DT’s strong salesforce.
This acquisition will reinforce the Group’s No.1 position in Russia, a country which has been a key market in earnings growth for many years.
The company said the transaction will not have any material impact on the JT Group’s consolidated performance for the fiscal year 2018