El Saidy Tobacco acquires Americana Egypt’s International Tobacco

M&A WATCH- El Saidy Tobacco has acquired Americana Egypt subsidiary International Tobacco, Prime Holding — which managed the transaction and acted as Americana’s financial advisor — said in a press release (pdf). El Saidy Tobacco’s CEO Hamada El Far said the acquisition of International and its ElHennawi Tobacco brand represented “a strong addition” to the company’s portfolio. The value of the transaction was not disclosed. El Saidy, which employs some 2.5k workers, set up shop in Mansoura 15 years ago and has a second factory in Menofia.