[NOTE: The news keeps rolling in, this time from Xikar. I just received the following from them relating their refocus on cigar accessories and selling of the HC and Defiance cigar brands]
Kansas City, MO – After a thorough review of strategic alternatives, XIKAR, Inc. has entered into a sale agreement with Cigars International for the HC Series and Defiance Cigar Brands. “We have elected to return our full focus and energy to our leading cigar accessory business,” said Kurt Van Keppel, CEO and Founder of XIKAR. “We have significant opportunities that require our complete organization and strategic resources be dedicated to growing our accessory business,” continued Mr. Van Keppel.
Effective July 1, 2013 XIKAR will sell its cigar brands to Cigars International. Cigars International will continue to sell the cigars to brick and mortar retailers through their Meier and Dutch distribution arm. “We encourage our existing customers who have supported our highly rated cigars to continue to source them for our loyal consumers from Meier and Dutch,” said Mr. Van Keppel. “CI has agreed to price protect all existing retailers by not discounting below our existing MAP policy through September 30, 2013,” stated Mr. Van Keppel.
“We have been in the cigar business for eight years, and have concluded that focus on accessories better aligns our resources to our goals. We appreciate the support we have received from retailers and consumers, and commit to rewarding that loyalty through continued innovation and enhanced sales, marketing and customer service behind our leading accessory portfolio. We desire to hold market leadership, and believe a singular focus will enhance the XIKAR brand for the long term,” concluded Mr. Van Keppel.
Questions regarding this announcement can be directed to your Business Development Manager, Kurt Van Keppel, CEO or David Frazier, VP-Sales at XIKAR.
Based in Kansas City, Missouri, XIKAR is the leading cigar accessory company. Creator of the revolutionary and now iconic Xi1 cutter, XIKAR sells cigar accessory products in thousands of retail locations around the world.