Scandinavian Tobacco Group completed the acquisition of Royal Agio Cigars from Highlands Beheer for €210m.

Scandinavian Tobacco Group, a manufacturer of cigars and traditional pipe tobacco completed the acquisition Royal Agio Cigars, an European cigar company with a strong cigar portfolio including key brands such as Mehari's, Panter and Balmoral, from Highlands Beheer, the holding company of the Royal Agio Cigars group of companies, for €210m ($232m). “I am very pleased that we have completed the acquisition of Royal Agio, which significantly strengthens our position in several key machine-made cigar markets in Europe and enables us to deliver an even more attractive range of cigars of the highest standards to our consumers,” Niels Frederiksen, Scandinavian Tobacco Group CEO.