Scandinavian Tobacco Group A/S acquires the brand XQS

Copenhagen, 23 April 2023

Scandinavian Tobacco Group A/S acquires the brand XQS

Scandinavian Tobacco Group A/S has today agreed on the terms and conditions for the acquisition of substantially all assets of the Swedish company XQS International AB ("XQS”). The transaction is expected to close shortly. The transaction value consists of an upfront payment as well as an earn-out agreement. Assuming all targets are met, the total purchase price will be about DKK 150 million and it will be fully financed by cash at hand and debt.

XQS is active in smoke-free products and its products are primarily sold in Sweden. In 2022, XQS’ reported net sales were about DKK 50 million with a low single-digit EBITDA margin and a total volume of 3 million cans.

For further information, please contact:
Torben Sand, Head of IR & Communication, phone +45 5084 7222 or torben.sand@st-group.com
Eliza Michael, IR and Communication, phone +45 5080 7619 or eliza.michael@st-group.com

Attachment

• Company Announcement no 18 2023