Sofia/London — British American Tobacco (BAT) said on
Wednesday that it has agreed to buy a raft of cigarette brands from
Bulgaria’s Bulgartabac for more than €100m. The acquisition of the
Victory, Eva Slim and GD marques will lift BAT’s local market share to
40% from the current 12%, BAT said.
The tobacco giant will also acquire distribution and retail assets in Bulgaria and within the wider Adriatic region, although the deal is still subject to regulatory approval. Bulgaria’s tobacco market is worth almost €1bn annually and the Balkan country has one of the highest smoking rates in the EU.
BAT regional chief Richard Widmann said the country has a "very bright future".
Reuters reported on Wednesday that the UK Supreme Court has denied the tobacco industry permission to appeal a new plain-packaging law, meaning that from next month, as planned, all tobacco products sold in the UK will have dark brown packaging and no branding. The new law aims to discourage the smoking habit with drab-coloured packaging and large, pictorial health warnings.
The decision, announced by the court on Wednesday, is in line with an earlier decision, made last year, that dismissed appeals brought by BAT, Japan Tobacco International and Imperial Brands. The companies had argued that the law, which went into effect last May with a one-year grace period for existing inventory to be phased out, unlawfully deprived them of intellectual property by banning the use of all marketing on packages, including logos, colours and special fonts.
In its latest decision, the court said the refusal to hear the appeal was based on the fact that it did not "raise a point of law of general public importance which ought to be considered at this time, bearing in mind that the case has already been the subject of judicial decision and reviewed on appeal". Officials at BAT and Japan Tobacco International were not immediately available for comment.
AFP and Reuters
The tobacco giant will also acquire distribution and retail assets in Bulgaria and within the wider Adriatic region, although the deal is still subject to regulatory approval. Bulgaria’s tobacco market is worth almost €1bn annually and the Balkan country has one of the highest smoking rates in the EU.
BAT regional chief Richard Widmann said the country has a "very bright future".
Reuters reported on Wednesday that the UK Supreme Court has denied the tobacco industry permission to appeal a new plain-packaging law, meaning that from next month, as planned, all tobacco products sold in the UK will have dark brown packaging and no branding. The new law aims to discourage the smoking habit with drab-coloured packaging and large, pictorial health warnings.
The decision, announced by the court on Wednesday, is in line with an earlier decision, made last year, that dismissed appeals brought by BAT, Japan Tobacco International and Imperial Brands. The companies had argued that the law, which went into effect last May with a one-year grace period for existing inventory to be phased out, unlawfully deprived them of intellectual property by banning the use of all marketing on packages, including logos, colours and special fonts.
In its latest decision, the court said the refusal to hear the appeal was based on the fact that it did not "raise a point of law of general public importance which ought to be considered at this time, bearing in mind that the case has already been the subject of judicial decision and reviewed on appeal". Officials at BAT and Japan Tobacco International were not immediately available for comment.
AFP and Reuters
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