Oettinger Davidoff announces major farmland acquisitions in Nicaragua and Honduras

USA - English

• Latin America - español

BASEL, Switzerland, Feb. 27, 2015 /PRNewswire/ -- Oettinger Davidoff AG, the worldwide leading manufacturer of premium cigars, headquartered in Basel, Switzerland, announced today the acquisition of tobacco farmland in Nicaragua's Condega region as well as in the Jamastran valley of Honduras.

The company further announced that it has acquired land in the vicinity of its box factory to build a new cigar factory in Danli, Honduras, as the growth of Camacho and other Honduran brands has outgrown the capacity of the current factory, which will be divested.

Hans-Kristian Hoejsgaard, CEO and Board member of Oettinger Davidoff, said: "Our acquisition of over 150 hectares of land in Condega, Nicaragua, and in Jamastran, Honduras, represents a further strengthening of our crop-to-shop philosophy, which is an anchor of our global strategy. I am equally delighted that a splendid new Camacho (Agroindustrias Laepe) factory designed by Honduran architect Gonzalo Nunez Diaz and including expansive visitor accommodation will underpin the growth trajectory of the Camacho, Room101 and Baccarat brands."

Javier Plantada, Senior Vice President Global Production of Oettinger Davidoff, added: "I am particularly delighted about the quality of the farm land we have been able to acquire, which not only will provide us with top notch tobacco quality, but also will allow us to pursue our innovation agenda and experiment with new and existing seeds."

The plot of land for the new factory in Danli covers almost 450'000 square feet (41'000 m2) of land. The factory will, in phase 1, have a space of over 185'000 square feet (17'300 m2), and reflects the 60% growth in production output the company has had in the last 3 years. "We simply outgrew our Agroindustrias Laepe facilities," Plantada added.

About Oettinger Davidoff AG
The CHF 1.2 billion Oettinger Davidoff AG, with over 3,500 employees around the world, traces its roots back to 1875 and remains family owned to this day with two distinctly different businesses: one that is focused on FMCG distribution in the Swiss market and one dedicated to the core business of producing, marketing and retailing premium branded cigars, tobacco products and accessories. The premium branded cigar business includes Davidoff, AVO, Camacho, Cusano, Griffin's, Private Stock, Zino and Zino Platinum. Oettinger Davidoff AG is anchored in a strong "crop-to-shop" philosophy, having pursued a vertical integration from the tobacco fields in the Dominican Republic, Honduras and Nicaragua to the worldwide network of almost 70 Davidoff Flagship Stores.

For further information please contact:
Oettinger Davidoff AG
Paloma Szathmary
Senior Vice President
Corporate Communications
Hochbergerstrasse 15
CH - 4002 Basel
Tel. +41 61 279 36 24
[email protected]
oettingerdavidoff.com  

SOURCE Oettinger Davidoff AG

Related Links

http://oettingerdavidoff.com