The FINANCIAL — British American Tobacco announced it has completed the acquisition of TDR d.o.o. and other tobacco and retail assets from Adris Grupa for a total enterprise value of 550 million euros. TDR is the leading independent cigarette manufacturer in Central Europe with a market leading position in Croatia, according to Nasdaq.
Naresh Sethi, BAT’s Director Western Europe, said: “This is an exciting acquisition for BAT. It provides immediate scale in three core markets of Croatia, Bosnia and Serbia and establishes a sustainable platform to grow our business across Central Europe”.