(MENAFN) British American Tobacco has signed a deal to acquire Croatia's cigarette producer TDR for USD600 million, aiming to expand its business in central Europe, The Peninsula Qatar reported.
BAT added that it will also acquire other tobacco and retail assets from TDR owner the Adris Grupa, according to the deal signed in London, the Croatian company said in a statement.
BAT has committed to keep TDR's manufacturing facility in Kanfanar, in northwestern Croatia, operational for at least five years following completion of the acquisition, it added.
"This is an exciting acquisition for BAT, which will provide immediate scale in three core markets of Croatia, Bosnia and Serbia and establishes a sustainable platform to grow our business," BAT chief executive said.
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