Belgian family business J. Cortès recently acquired the USA-based Oliva Cigars family business with branches in Miami and Nicaragua.

 

With this acquisition, J. Cortès says it aims to diversify its product portfolio and further establish its position in the worldwide market with a combined annual turnover of $100m. “A family business firmly branching out in two continents, is unprecedented in the cigar industry,” says J. Cortès.

 

Oliva Cigars says that this deal is much more than a straightforward business transaction. “It is the culmination of the story of two families, running businesses for generations in an authentic market.”

 

“J. Cortès cigars are manufactured on a production line, whereas Oliva cigars are still rolled by hand. Where J. Cortès is mainly active in Europe, Oliva plays an important role in the American market.”

 

CEO of Oliva Cigars, Fred Vandermarliere comments: “Oliva Cigars is a fantastic, well-run business with strong brands and plenty of future opportunities. This acquisition allows us to further strengthen both businesses’ strategy and to stay focused on brands, people and dedication to great products for cigar lovers.”

 

The deal closed on 30 June and was effective from 1 July 2016.