Karyadibya Mahardhika

Global tobacco firm, Japan Tobacco has announced the acquisition of kretek cigarette company Karyadibya Mahardhika and its distributor for $677 million, in a deal that will see it buy 100% of the outstanding shares in the Indonesian firm. Japan Tobacco said the acquisition would “give the JT Group immediate scale and presence on a nationwide level in the Indonesian kretek market”. Indonesia is described as the world’s second largest tobacco …