Dutch cigar company distributes €10 million among staff after takeover
Tuesday, 07 January 2020
The Dutch cigar company Royal Agio Cigars will distribute €10 million among its 3.200 staff members. Credit: Pexels
The Dutch cigar company Royal Agio Cigars will distribute €10 million among its 3.200 staff members, after the company has been taken over by the Scandinavian Tobacco Group.
The bonus for each employee will depend on the amount of time that person has worked for Agio, reports Het Laatste Nieuws.
“All these years, we have had the support of our employees, who have dedicated themselves 100% to Agio, sometimes even from generation to generation. In this way, we want to show our appreciation for the loyalty, the beautiful moments we have shared with each other and the mutual respect we have always felt,” said Boris Wintermans, CEO of the family business, reports NOS.
The takeover, for €210 million, was announced in September 2019, and finalised on 2 January 2020.
Royal Agio Cigars, which was founded in 1904, produces the Agio, Balmoral, Panter and Mehari’s cigar brands, and has factories in the Netherlands, Belgium, Sri Lanka and the Dominican Republic.