Imperial Brands PLC is looking to sell off the Premium Cigar end of their interests. Imperial is the parent company of Altadis USA, and half of the Habanos S.A. brands, in addition to the chain of Casa de Montecristo lounges and the online retailer JR Cigar.
Altadis was initially purchased by Imperial Brands back in 2007. According to Cigar Aficionado, the sale closed for $22.4 billion at that time. Statements from officers at Imperial say that this is part of a divestment program meant to pay down debt and simplify the overall portfolio.
In addition to Altadis, Imperial Brands also contains companies who manage other tobacco products, and some smokeless products like Blu branded vapour.