Spanish Firm Buys Majority Stake in JR Cigar

Madrid-based Altadis, through its Tabacalera Cigars Internacional unit, bought a majority stake in Burlington, NC-based distributer JR Cigar. The $62 million JR Cigar includes print and online catalogs. Terms of the deal were not disclosed.

     Altadis also acquired the option to buy the remaining shares in JR Cigar that it does not already own during the next five years. JR Cigar founder Lewis Rothman will remain chairman/chief executive.