Hail & Cotton And CdF to Merge

Source from:  Tobacco Reporter 09/08/2010

Hail & Cotton and CdF International Group have signed a letter of intent to merge their respective businesses. The combined company will be headed by Warren L. Corbin with a senior management team consisting of Gustav Stangl, Paul Taberer, Tom Wilks and Roderick Roe. The shareholders of CdF International Group will maintain a significant long-term economic interest in the combined business. A definitive agreement is expected to be signed in the near future and the closing is expected to take place by Dec. 31, 2010. Hail & Cotton and CdF International Group collectively have more than 230 years experience in the tobacco industry. Both companies have long been major suppliers of dark tobaccos and the merger will further strengthen their product offering. The new company will also be more effective in meeting the needs of customers worldwide. In addition, the combined company will have the resources, global capacity and infrastructure to further develop and enhance its supply of all tobacco leaf types from major producing areas. "The merger of our two companies is a value enhancing proposition within the cigar, cigarette and smokeless tobacco industry," the company stated in a press release. "Our businesses are complementary, create synergies and will make us a stronger competitor overall." Enditem