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JACKSONVILLE, Fla. — Swisher International Inc. announced Monday it will acquire Drew Estate Inc. in its entirety. Terms of the transaction were not disclosed.
Drew Estate has led the "boutique cigar" movement by innovating and bringing new elements to the tobacco industry with unique tobaccos and blending styles, according to a joint news release from the companies.
Known for its "The Rebirth of Cigars" mantra, Drew Estate produces a variety of brands, including ACID, Herrera Estelí, Kentucky Fired Cured, Liga Privada, MUWAT, Natural, Nica Rustica, Nirvana Cameroon Selection, Tabak Especial, UnderCrown, and Java by Drew Estate.
"This is a dream come true. From the moment we met the team at Swisher and began speaking of a possible acquisition, it was clear that, as a family business, they understood the culture we have created and completely supported our desire to keep our family at Drew Estate intact," said Drew Estate co-founder Marvin Samel. "The team we have built in Miami and Nicaragua represents the heart and soul of ‘The Rebirth of Cigars’ and will continue to drive that vision into the future. In fact, we're just getting started.”
Drew Estate will continue to operate under its current management team as a subsidiary of Swisher.
Swisher International manufactures cigars, filtered cigars and smokeless tobacco brands. The Jacksonville-based company is known for many products, including Swisher Sweets, King Edward, Optimo, BlackStone, Pom-Pom and Santa Fe cigars; Mail Pouch, Chattanooga Chew, Starr, Bowie and Lancaster chewing tobaccos; Silver Creek, Kayak and Redwood moist snuff; Navy and Railroad Mills dry snuff; and Kismet, Casino Gold HRS and Nirvana Cameroon Selection Premium Cigars through its Royal Gold Premium Cigars division.
“As a global leader in the cigar and OTP [other tobacco products] categories, Swisher prides itself on developing, manufacturing and distributing the most innovative and high-quality tobacco products available. I see those same principles in Drew Estate,” said Peter Ghiloni, president and CEO of Swisher International. “The products produced by Drew Estate and its distribution partners Joya De Nicaragua, Royal Agio Cigars and Tsuge pipes are top-quality market leaders in their respective segments."
The transaction is expected to close by the end of the year.