Oettinger Davidoff AG signs Joint Venture agreement for China
with Sparkle Roll Group Limited
Basel/Switzerland, October 2, 2015. Oettinger Davidoff AG, the worldwide leading manufacturer of premium cigars, headquartered in Basel, Switzerland, and Sparkle Roll Group Limited, a publicly listed company in Hong Kong (Stock Code: 0970.HK), principally engaged in the distributorships and dealerships of top-tier branded consumer goods, announced today the entering into a Shareholder’s Agreement to form a new Joint Venture Company for Davidoff cigars and cigar accessories in China. Oettinger Davidoff AG will hold 49,9 % and Sparkle Roll Group Limited 50,1% in the Joint Venture. Earlier this year, both companies had announced the entering into a framework agreement to form such a Joint Venture.
Hans-Kristian Hoejsgaard, CEO and Board member of Oettinger Davidoff AG, said: “The signing of this Joint Venture agreement heralds a new era in our relationship with Sparkle Roll and in our commitment to building the Davidoff business in China. This market represents the single largest business opportunity for Davidoff in our time and I am convinced that with this new Joint Venture we will be able to exploit that opportunity to its fullest.”
Mr. Tong Kai Lap, Chairman of Sparkle Roll, said: “Since the individual customers of Sparkle Roll’s existing principal business in top-tier automobiles are predominantly people with high spending power, the Joint Venture will create synergies for both companies. The end products in both businesses are perceived to have the same target customer group and market positioning in the premium segment.”
About Oettinger Davidoff AG
The CHF 1.23 billion Oettinger Davidoff AG, with over 3,600 employees around the world, traces its roots back to 1875 and remains family owned to this day, with two distinctly different businesses: one that is focused on FMCG distribution in the Swiss market and one dedicated to the core business of producing, marketing and retailing premium branded cigars, tobacco products and accessories. The premium branded cigar business includes Davidoff, AVO, Camacho, Cusano, Griffin’s, Private Stock, Zino and Zino Platinum. Oettinger Davidoff AG is anchored in a strong “crop-to-shop” philosophy, having pursued a vertical integration from the tobacco fields in the Dominican Republic, Honduras and Nicaragua to the worldwide network of more than 70 Davidoff Flagship Stores.
About Sparkle Roll Group Limited (Stock Code: 970.HK)
Sparkle Roll Group Limited is principally engaged in trading of top-tier automobiles, high- end watches and jewellery and other branded consumer goods in the PRC, Hong Kong, Macau and Malaysia, including dealerships of top-tier automobiles such as Bentley in Beijing and Tianjin, Lamborghini and Rolls-Royce in Beijing; dealerships of high-end branded watches Richard Mille, DeWitt, Parmigiani in the PRC; cohesive partnership with high-end branded jewelry Boucheron, and exclusive license agreement using trademarks of Royal Asscher in the PRC respectively; cohesive partnership with renowned French fine wines merchant Duclot Export in the PRC and distributorships of Bordeaux fine wines from renowned French fine wines merchants Maison Joanne, Ulysse Cazabonne and Compagnie Medocaine Des Grands Crus in the PRC; approved dealerships of Chateau Latour, Domaine d’ Eugenie, Chateau Margaux, Chateau d’ Yquem and Chateau Mouton Rothschild. As for other businesses, the Group also represents Buben & Zorweg Group, a top-notch manufacturer in OBJECTS OF TIME based in Austria and is the retailer and re-seller of B&O PLAY under Bang & Olufsen in the PRC with 37 POS and 2 online stores under operations. On 28 November 2014, the Group entered into a License Agreement with Corneliani S.p.A., an Italian Company which bears the international brand of high-end elegant menswear, for its non-exclusive right to sell clothing articles and other menswear products of Corneliani Brand in the PRC and Macau.
