Scandinavian Tobacco Group (STG) A/S has announced today that it has completed the acquisition of a majority stake in Moderno Opificio del Sigaro Italiano, MOSI, an Italian Cigar Company.
MOSI was founded in 2013 by Cesar Pietrella. The company is based in Orsago, Italy, and has 40 employees. MOSI is known for its machine-made cigars consisting of Italian and American Kentucky tobaccos, especially its Ambascitator Italico brand. According to STG, it has about 9% of the market in Italy for machine-rolled cigars.
In a press release, Jurjan Klep, Senior Vice President of the Europe Branded division in Scandinavian Tobacco Group commented: “We are excited about this acquisition. With a majority stake in MOSI we are acquiring modern cigarmaking craftsmanship and a premium brand that will increase our offering to our consumers and the opportunity to take further market share in an important market. This is our 5th acquisition since 2016 and I look forward to further cementing our proven track record of creating value from acquisitions of brands and businesses.”
Mr. Cesare Pietrella, founder and President of MOSI added: “Together with Scandinavian Tobacco Group, MOSI and Ambasciator Italico are well positioned for growth and the acquisition will invigorate the Italian cigar market and benefit Italian cigars smokers, customers and tobacco farmers”.