Japan Tobacco Acquires Egypt’s Al Nakhla

Japan Tobacco Inc. (JTI) has announced the signing of an agreement to acquire all of the outstanding shares of Egypt-based Al Nakhla Tobacco Co and Al Nakhla Tobacco Co- Free Zone.

The Japanese firm said the acquisition offers an excellent opportunity for growth in the waterpipe segment and widens its brand portfolio.

“Furthermore, the acquisition enhances JTI’s geographical footprint in the Middle East and Africa, and over the long-term provides a platform for JTI to participate in the sizeable cigarette market in Egypt,” the company said.

Ameinfo