By Ian Walker
LONDON--British American Tobacco PLC (BATS.LN) said Monday it is
buying TDR d.o.o. and other tobacco and retail assets from Adris
Grupa d.d. (ADRS.ZG) for an enterprise value of 550 million euros
($604 million).
BAT, whose brands include Lucky Strike, Pall Mall and Rothmans,
expects the deal to complete in October.
TDR is an independent cigarette manufacturer in Central Europe.
As part of the deal, BAT has committed to keeping TDR's
manufacturing facility in Kanfanar, Croatia, operational for at
least five years following completion of the acquisition.
"This is an exciting acquisition for BAT, which will provide
immediate scale in three core markets of Croatia, Bosnia and Serbia
and establishes a sustainable platform to grow our business in
Central Europe," Chief Executive Officer Nicandro Durante said.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
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