Raleigh-based CB Holdings has reached an agreement to buy the assets of Renegade Holdings, a cigarette manufacturer in Davie County.
Renegade Holdings is the privately-held parent of Renegade Tobacco and Alternative Brands. Its products include Tucson cigarettes and Murano cigars.
Financial terms of the deal were not disclosed. The combined company will employ about 150 people, according to a statement issued by CB Holdings.
The Raleigh company, which is owned by Bill Barker and Charles Fuller, owns the tobacco brands Palmetto and Proud Smoke. It also owns a manufacturing facility in South Boston, Va., a sales and distribution company in Raleigh and an organic coffee company, Cherokee Coffee.
According to a statement issued by CB Holdings, the company has been working on the acquisition for more than a year and expects the deal to close in October.