Scandinavian Tobacco Group A/S acquires Swedish smokeless brand XQS

Today’s news, April 24: According to foreign media reports, Scandinavian Tobacco Group A/S announced today that it has agreed on the terms and conditions for the acquisition of nearly all assets of Swedish company XQS International AB (“XQS”). The transaction is expected to be completed shortly.

The transaction value includes an upfront payment and target-based consideration. Assuming all targets are achieved, the total purchase price will be approximately DKK 150 million, fully funded by cash on hand and debt.

XQS is active in the smokeless products segment, with its products sold primarily in Sweden. In 2022, XQS reported net sales of approximately DKK 50 million, an EBITDA margin in the low single digits, and total sales volume of 3 million cans.