User:Jkamarin/sandbox

KARELIA TOBACCO COMPANY INC.



Type: 		Incorporated

Traded as: 	ASE: KAREL

Industry: 	Tobacco

Founded: 	1888

Headquarters:  Kalamata, Greece

Area served: 	Worldwide

Key people: 	Andrew G. Karelias (Managing Director) Stathis G. Karelias (Vice President)

Products:	Cigarettes, Roll your own, Quality rolling papers

Revenue:	€720.907 million (Group 2013)

Operating	€63.13 million (Group 2013) Income:

Net income: 	€60.98 million (Group 2013)

Employees:	530 (Group 2013)

Website:  	www.karelia.gr

The Karelia Tobacco Company Inc. is a Greek manufacturer, distributor and exporter of tobacco products headquartered in Kalamata, Greece. It is one of the world’s fastest growing independently owned tobacco manufacturers with a global market share of 0.34%, producing a diversified portfolio of brands including cigarettes, roll-your-own tobacco and quality rolling papers. More than 80% of its total production is exported.

The Company enjoys a presence in almost 70 world markets in Europe, America, the Middle East and Persian Gulf, Asia Pacific and Africa, with an annual sales volume totaling 16.88 billion cigarettes in the year 2013 and roll-your-own tobacco volume totaling 428 tons. Leading brands include George Karelias and Sons, Karelia Slims, Omé, Karelia Round Corner Family, Karelia Royal and American Legend.

Karelia Tobacco Company has been listed on the Athens Stock Exchange since 1976, when it was first publicly traded under the name Karelia Brothers.

HISTORY

1888 TO 1990

Karelia is Greece’s oldest tobacco manufacturer. The Company’s roots date back to 1888, when the first generation of the Karelia family, George and Stathis Karelias, established themselves as a small tobacco business in Kalamata, a city in the southern Peloponnese. Its activities were largely regional in the first few decades of its operations, until the political and economic outlook in the country became more stable, allowing Karelia to expand its presence on a nationwide level. Beginning in the 1950’s and up until today, numerous Karelia brands have gained in popularity resulting in a wide circulation and substantial market share in all of Greece. The most notable among the Greek brands launched during this period is the FPK (Filtro Politeleias Kasetina), better known to Greek consumers as the “Karelia Kasetina”. Another very famous brand that was launched later in the early 1980’s was Karelia Lights, becoming Greece’s top selling lights brand for many years. Both of these brands continue to be produced and enjoyed by consumers across Greece even today. In 1976, Karelia entered into an agreement with tobacco manufacturer RJ Reynolds (presently Japan Tobacco International) to become the Greek licensed manufacturer and distributor for the brand Winston and later in 1981 for the brand Camel.

1990 TO PRESENT

Since the early 1990’s the Group has transformed itself from a predominantly Greek company into an international group employing 500 people. It benefits from a substantial network of agents and distributors developing its brands in all corners of the world.

In 1991 the company adopted its current name, the Karelia Tobacco Company Inc. In 1994 Karelia established an office in Sofia, Bulgaria. Karelia’s wholly-owned shipchandling subsidiary, Meridian Duty Free Specialists, was acquired in 1995. In the year 2000, Karelia ended its cooperation with Japan Tobacco International in order to concentrate on developing its own trademark brands.

In 2003, the Company established a subsidiary in the UK called Karelia Tobacco Company (UK) Ltd. for the distribution of its brands in that market. In 2007, operations were expanded in Bulgaria and its commercial import company Karelia Bulgaria EOOD was established. In 2008, it established a subsidiary in Turkey, Karelia Tütün ve Ticaret A.S. In that same year, the company acquired the Backwoods cigar brand from Altadis S.A., for the Greek domestic and duty free markets.

BRANDS:

Karelia produces a comprehensive range of brands in Virginia and American blends in a number of pack formats with an emphasis on high quality and design:

Cigarette brands:

•	George Karelias and Sons •	Karelia Slims •	Omé •	Karelia Family Round Corner •	Karelia Royal •	Wellington • 	American Legend •	Leader

Roll your own products:

•	George Karelias and Sons Hand Rolling Tobacco 15g/20g/25g.

Other products:

•	George Karelias and Sons Quality Cigarette Papers