Electronic Cigarettes International Group signs memorandum of understanding with European tobacco gi

According to a report from the Business Line, on December 10, the Electronic Cigarettes International Group announced that it has signed a memorandum of understanding with TDR, an independent tobacco company that holds a 60% market share in Croatia, leading in Southeast Europe. This memorandum outlines the terms for the exclusive distribution of Electronic Cigarettes International Group brands within TDR's market territory, with an authoritative agreement expected to be signed in the first quarter of 2015 and new products launched.

TDR, part of the Adriatic Group, which has an annual revenue of $1 billion, is one of the largest tobacco companies in Southeast Europe. TDR sells its main brands Ronhill, Walter Wolf, and York in Eastern, Central, Western Europe, and the Middle East. TDR is a vertically integrated company, consisting of five companies, including Croatia's leading Virginia tobacco and white leaf tobacco buyer, packager, and trader Hrvatski Duhani, the network of over 590 retail stores in Croatia and Bosnia, iNovine, Croatia's leading commercial packaging manufacturer and exporter Istragrafika, and TDR's tobacco distribution company Adista in Croatia and Bosnia. TDR also operates branches in Croatia, Bosnia, Germany, Kosovo, the Republic of North Macedonia, Montenegro, Serbia, and Slovenia. Each company in TDR's value chain plays a unique role, from tobacco planting and processing to production, distribution, and retail support for tobacco products.

TDR's CEO Mato Zadro stated, "We are very excited about the partnership we have established with the Electronic Cigarettes International Group. We have the strongest tobacco business in the region, and partnering with a leading company in the e-cigarette sector will enable us to accelerate development and provide our customers with leading products in this new market segment. We believe that e-cigarettes will become a very important business, and we think that leveraging the combined strengths of our products and distribution capabilities will greatly benefit both companies."

Brent Willis, Chairman and CEO of the Electronic Cigarettes International Group, said, "TDR is an important strategic partner with an excellent leadership team. Their tremendous success in Southeast Europe and other markets, along with their experience in the tobacco industry, has left a deep impression on us. We are very excited about establishing an e-cigarette business with them in a very attractive and rapidly developing region."