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- National Tobacco Enterprise
National Tobacco Enterprise Valuation, Funding & Investors
National Tobacco Enterprise is valued at $1.3B as of July 2016.
Last National Tobacco Enterprise valuation
$1.3B
Undisclosed stage · Jul 2016
Last National Tobacco Enterprise funding round
$510M
Undisclosed stage · Jul 2016
Cumulative funding National Tobacco Enterprise raised
$510M
across 1 funding round
Key investors in National Tobacco Enterprise
National Tobacco Enterprise Overview
About National Tobacco Enterprise
National Tobacco Enterprise is Ethiopia's state-owned producer and distributor of cigarettes and tobacco products. Headquartered in Addis Ababa, the company manufactures brands like Nyala and Awash using locally grown tobacco from farms in Gambella and Oromia regions. National Tobacco Enterprise operates factories in Nazret and Dire Dawa with leaf processing and packaging lines.
Founded
1942
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Valuation
$1.3B (Jul 2016)
Sectors
National Tobacco Enterprise Valuation
National Tobacco Enterprise is currently valued at $1.3B, based on its undisclosed-stage round in July 2016.
The $510M round included Japan Tobacco.
National Tobacco Enterprise valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jul 2016 | Undisclosed stage | $1.3B |
National Tobacco Enterprise Funding History
National Tobacco Enterprise has raised a total of $510M across 1 funding round.
National Tobacco Enterprise funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2016 | Undisclosed stage | Japan Tobacco | $510M | $1.3B | National Tobacco Enterprise S.C. (NTE), established in 1942 as Ethiopia's tobacco monopoly, was partially privatized when Japan Tobacco International (JTI) acquired a 40% equity stake from the Ethiopian government for $510 million in July 2016, following a competitive international bid opened in May 2016. Prior to the deal, the government held 78% ownership, with Yemeni firm Sheba Ethiopia Investments owning the remaining 22% acquired in 2008 for $35 million. JTI's bid surpassed competitors including British American Tobacco ($230 million offer), Philip Morris International, and others, marking the largest privatization payment in Ethiopian history at the time. The transaction valued the entire company at an implied $1.275 billion post-money, with JTI wiring the full amount hours before signing the agreement at the Ministry of Public Enterprises. JTI representatives, including Francois Fidanza and Martin Ralph Fraundorfer, signed alongside Minister Demitu Hambissa, with Finance Minister Abdulaziz Mohammed and Japanese Ambassador Kazuhiro Suzuki in attendance. Local businessman Tewodros Ashenafi reportedly partnered with JTI. Post-acquisition, Sheba's stake was revalued at $255 million, over seven times its original purchase price. JTI aimed to invest heavily to transform NTE into a globally competitive tobacco producer, leveraging its expertise in brands like Camel and Winston. This fit JTI's international expansion strategy, as noted in their FY2016 annual report. JTI later acquired an additional 30.95% stake. |
Who has invested in National Tobacco Enterprise?
1 investor has backed National Tobacco Enterprise across its funding rounds, including Japan Tobacco.
National Tobacco Enterprise Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
This data is available for Pro users. Sign up to see all 1 National Tobacco Enterprise investors. Start Free Trial | ||||
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Start Free TrialNational Tobacco Enterprise Competitors
National Tobacco Enterprise competitors include listed companies like Karelia Tobacco, Pakistan Tobacco, AIR Global and Turning Point Brands, and private ones like Log 9 Materials and BlackCool & Co..
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $1.9B | $136M | $1.3B | - | ||
| Publicly listed | $500M | $191M | $1.2B | - | ||
| Publicly listed | $400M | $103M | $1.2B | - | ||
| Publicly listed | $463M | $108M | $1.4B | 2.7x | ||
| Private | $12M | - | $210M | 17.5x | ||
| Private | - | - | $60M | - |
National Tobacco Enterprise Public Comps
National Tobacco Enterprise is still privately-owned, but its public comps include Karelia Tobacco, Pakistan Tobacco, AIR Global, Turning Point Brands, Universal Corp., Ceylon Tobacco Company, British American Tobacco Bangladesh, Scandinavian Tobacco, Carreras and Eastern Company.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.9B | $136M | 0.3x | - | 3.7x | - | |||
| $500M | $191M | 2.5x | - | 6.4x | - | |||
| $400M | $103M | 3.8x | - | 14.9x | - | |||
| $463M | $108M | 3.1x | 2.7x | 13.3x | 16.1x | |||
| $2.9B | $228M | 0.7x | 0.8x | 9.5x | 8.4x | |||
| $201M | $161M | 4.6x | 4.3x | 5.7x | - | |||
| $678M | $182M | 1.4x | - | 5.2x | 3.1x | |||
| $1.4B | $239M | 1.2x | 1.2x | 7.1x | 6.3x | |||
This data is available for Pro users. Sign up to see all National Tobacco Enterprise competitors and their valuation data. Start Free Trial | ||||||||
Common questions about National Tobacco Enterprise
| When was National Tobacco Enterprise founded? | National Tobacco Enterprise was founded in 1942. |
| Where is National Tobacco Enterprise headquartered? | National Tobacco Enterprise is headquartered in Addis Ababa, Ethiopia. |
| Is National Tobacco Enterprise publicly listed? | No, National Tobacco Enterprise is a private, VC-backed company. |
| What is National Tobacco Enterprise's valuation? | National Tobacco Enterprise was last valued at $1.3B in its undisclosed-stage round in July 2016. |
| How much funding has National Tobacco Enterprise raised? | National Tobacco Enterprise has raised $510M across 1 funding round. |
| What was National Tobacco Enterprise's last funding round? | National Tobacco Enterprise's last funding round was a $510M undisclosed-stage round in July 2016. |
| Who are National Tobacco Enterprise's investors? | National Tobacco Enterprise's investors include Japan Tobacco. |
| Which companies are comparable to National Tobacco Enterprise? | Companies comparable to National Tobacco Enterprise include Karelia Tobacco, Pakistan Tobacco, AIR Global, Turning Point Brands, Log 9 Materials and BlackCool & Co.. |
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