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

EthiopiaAddis Ababa

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

National Tobacco Enterprise valuation by funding round
DateStageValuation
Jul 2016Undisclosed 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

National Tobacco Enterprise funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jul 2016Undisclosed stageJapan Tobacco$510M$1.3BNational 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

Investors in National Tobacco Enterprise by funding rounds participated
InvestorHQRoundsRoleFirst check

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National 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..

Public and private companies comparable to National Tobacco Enterprise
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Karelia TobaccoGreeceGreecePublicly listed$1.9B$136M$1.3B-
Pakistan TobaccoPakistanPakistanPublicly listed$500M$191M$1.2B-
AIR GlobalUAEUAEPublicly listed$400M$103M$1.2B-
Turning Point BrandsUnited StatesUnited StatesPublicly listed$463M$108M$1.4B2.7x
Log 9 MaterialsIndiaBangalorePrivate$12M-$210M17.5x
BlackCool & Co.United StatesAtlanta, GAPrivate--$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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Karelia Tobacco$1.9B$136M0.3x-3.7x-
Pakistan Tobacco$500M$191M2.5x-6.4x-
AIR Global$400M$103M3.8x-14.9x-
Turning Point Brands$463M$108M3.1x2.7x13.3x16.1x
Universal Corp.$2.9B$228M0.7x0.8x9.5x8.4x
Ceylon Tobacco Company$201M$161M4.6x4.3x5.7x-
British American Tobacco Bangladesh$678M$182M1.4x-5.2x3.1x
Scandinavian Tobacco$1.4B$239M1.2x1.2x7.1x6.3x

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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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