The UK's Imperial Tobacco Group has inked a deal with Germany's Tchibo Holdings to buy the Davidoff cigarette brand for €540 million ($692.8m; £365m).
Imperial says the deal, which is subject to German regulatory approval, "provides greater flexibility to develop the brand, enabling us to increase investment and accelerate its international growth".
Imperial, which makes Lambert & Butler cigarettes, among a host of other brands, is also the subject of speculation that it plans to acquire Franco-Spanish rival Altadis.
Data sourced from mad.co.uk; additional content by WARC staff
