CTA and Hail & Cotton International Group announcement
CTA and HCIG are very pleased to advise that both companies have reached an agreement whereby HCIG will purchase a significant shareholding in CTA. Final agreements have been signed and closing is complete.
CTA will remain under the leadership of Mr. Allan Bichinho and all sales and leaf operations will continue as is. HCIG will now participate in the management of CTA and will continue providing sales and leaf support to CTA.
Mr. Bichinho and Mr. Derek Vaughan commented: “We have worked very closely with HCIG during the past several seasons and have a shared culture and vision, both critical for any successful alliance. The strategic leverage of this combination gives us the structure to address the ever-changing dynamics of our industry. We believe the combination of CTA and HCIG will continue to allow us to enhance the level of service and be beneficial to all of our customers.”
“We are very pleased that we have reached an agreement with the shareholders of CTA. They have a very strong reputation of supplying good quality Brazilian leaf from a world class facility, and together, we intend to expand our global customer base. This allows HCIG to positively complement the company’s operations in the US and its cigarette leaf and dark air cured operations in various countries,” stated Mike de la Fargue.
CTA started operations in Brazil in 1994 and is headquartered in Venancio Aires. It is jointly owned by GF Vaughan Tobacco Company, based in Lexington, Kentucky, USA and several Brazilian shareholders. HCIG was formed in 2011 when Hail & Cotton Inc. acquired CdF International and is headquartered in Springfield, Tennessee, USA.
Venancio Aires, Rio Grande do Sul, Brazil April 11th 2017
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