As reported by the Kansas City Business Journal today, XIKAR Inc. has been acquired by Quality Importers Trading Co. Inc. Founded in 1996, XIKAR offers a range of cigar accessories, including cutters, lighters, cigar containers, and humidifiers. Quality Importers specializes in product and service procurement, including sourcing, buying and importing.
The Miami-area company acquired XIKAR, and Quality Importers CEO Mike Giordano called it the "largest and most impactful transaction since our inception 18 years ago."
According to a release, the deal creates the largest accessory supplier to the premium cigar trade.
"This is a transformational event in the cigar accessory category, creating an industry-leading partnership with enormous growth potential in existing and new markets," Giordano said in the release. "Unlike all of our previous acquisitions, XIKAR contributes a coordinated and experienced team of professionals, as well as a set of high quality, branded products and services, altogether enhancing the value proposition for our retail partners."
XIKAR President Kurt Van Keppel and Scott Almsberger, vice president and director of design and production, will continue with the combined company as vice presidents. The XiKAR founders will report to Michael Cellucci, president and COO of the combined company.
In a release, Van Keppel said the acquisition will expand the global reach of both companies' products and services.
Cellucci noted XIKAR's "market-leading" products in the release and called the combined companies a perfect marriage that leverages XIKAR's brand positioning and Quality Importers' full services. It creates one all-encompassing solution for retail partners, he continued in the release.