Crazy news from STG! I have it on good authority that they were in the market for a boutique cigar company to purchase, I’m a little surprised at this though. Considering the amount of money I heard thrown around, Mr. Booth would have to be mad to not consider making a deal. Obviously, he did! I’m hopeful that everyone involved makes the most of this opportunity!
Scandinavian Tobacco Group (STG) announces today that the company has acquired the Room101 cigar brand from Matt Booth and has retained Booth as creative director.
The acquisition is limited to Room101 cigars and accessories and does not include any of Matt Booth’s other Room101 entities.
Régis Broersma, president of STG’s North America and Rest of World divisions said, “Our acquisition of Room101 Cigars is a strategic move for both STG and Matt Booth, and underpins our collective drive to shake up the category. Matt is a creative force and we’ve admired his ability to surprise and delight the market. On top of that, the Room101 cigar portfolio represents a blue ocean of blends and taste profiles we haven’t been playing in. So this acquisition gives us an even deeper opportunity to innovate and unlock the brand’s potential. We’re looking forward to tapping Matt’s boundless creativity, to doing some really cool cigar projects with him and to working alongside him to keep Room101 true to its roots.”
Matt Booth said, “In my 13 years in this industry, I’ve fought hard to foster Room101’s stance in market and now it is time as a brand to ascend to the next level. This arrangement is nothing short of a watershed moment for myself and our brand family. Room101 Cigars has found its forever home with STG and I am extremely excited to be part of a company that is willing to invest in creative integrity and bold innovation. This partnership will empower Room101 Cigars to stretch outward and become the first true global craft brand in the category.”
Room101 Cigars complements STG’s handmade cigar portfolio which features a stable of heritage and boutique brands.
Room101 will be represented exclusively by STG’s Forged Cigar Company.
The transaction was completed on June 10, 2022. Terms of the deal are not being disclosed.
Régis concluded, “Our acquisition of Room101 Cigars represents our willingness to invest in brands with strong growth potential, and we will continue to explore opportunities to expand our market-leading portfolio.”
About Scandinavian Tobacco Group
Scandinavian Tobacco Group A/S is a world-leading manufacturer of handmade and machine-rolled cigars with an annual production of more than four billion cigars. The Group holds market-leading positions in several categories and its products are sold in more than 100 markets. Scandinavian Tobacco Group is headquartered in Copenhagen, Denmark and employs approximately 10,000 people globally. The Group is also the largest internet and catalog retailer of cigars and related accessories in the US, where STG has over 1 million active online consumers. For more information please visit www.st-group.com
About Room101 Cigars
Room101 entered the premium tobacco space in 2009, bringing transformative innovation to the category. Founder Matt Booth proudly served in a cast of characters and branding disruptors in the creation of what has ultimately become the boutique segment of the market. Inspired by the European jet set brands of the 1960s and anchored in Los Angeles, the Room101 portfolio includes Payback, 10th Annv, Doomsayer, Farce, Hit and Run and The T, as well as Snake Shake, a limited edition release. Please visit www.room101cigars.com for more details.
About Forged Cigar Company
Developed to deepen support for the brick and mortar channel, Forged Cigar Company launched in 2021 as an independent national cigar distribution network. Bolstered by independent marketing and customized programming, Forged Cigar Company’s portfolio includes a curated mix of established and cult brands such as Partagas, La Gloria Cubana, Bolivar Cofradia, Diesel and Chillin’ Moose. Forged Cigar Company’s mission includes leveraging relationships with its proprietary network of cigar factories to deliver product innovations uniquely timed to meet retailer and consumer needs
