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1 MIN READ

Japan: Japan Tobacco acquires Mighty Corp for $1 billion

August 24, 2017
-
Asia Pacific, Mergers & Acquisitions, Tobacco

Global cigarette manufacturer Japan Tobacco has announced that it is buying Mighty Corp, the number two cigarette company in the Philippines, for 46.8 billion PHP ($936 million).

According to executive vice president of Japan Tobacco, Mutsuo Iwai, “This major acquisition in Southeast Asia adds to our recently announced full-scale entry into Indonesia, and will further enhance our business base in the region”.

In August, Japan Tobacco announced that it would take a 100% share in Karyadibya Mahardhika for $677 million, announcing that the acquisition would “give the JT Group immediate scale and presence on a nationwide level in the Indonesian kretek market”.

Source: Japan Tobacco

Tags
Japan Tobacco
Mighty
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