On Thursday morning, Robert Holt took to Instagram to publicly announce that he and his wife, Sharon, are considering selling their stake in Southern Draw Cigars.
Holt said that the post was “not an alarm” but that a combination of personal factors and change within the industry have nudged him to begin discussing possibilities for the next chapter of the company.
The burden of “serious health concerns and anticipated health related costs at home” would be eased by selling their stake, Holt said. Additionally, he recognized that “the industry consolidates more and more each year, brands align, staff(s) are fortified and we would be lying to ourselves and others if we didn’t acknowledge that we too need help and need to add key personnel.”
Holt said he would like to maintain a minority stake in the company, as well as being able to continue blending, producing, branding and being involved with the company, but neither would be a requirement of a sale. Holt said he is also open to a merger that would offer joint sales, distribution and support.
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