The tobacco and nicotine company Swedish Match has sold House of Oliver Twist A/S (“Oliver Twist”) to AGA HK ApS, a company affiliated with Alex Gundersen’s tobacco business, Gundersen.

Oliver Twist was acquired by Swedish Match in 2018, which later became part of the Swedish Match acquisition completed by Philip Morris International (PMI) in 2023.

Oliver Twist operates in a highly specialised category, and we are confident that Gundersen is best positioned to provide the necessary investment and focus required to secure the brand’s continued success in the market.

The sale supports the strategy of Swedish Match and Philip Morris International to concentrate on the development of oral nicotine products for the Nordic region and the rest of the world.

The change of ownership and related conditions are expected to be finalised by the end of 2025.