British American Tobacco Acquires Colombia's Protabaco For $452 million

British American Tobacco Plc BTI agreed to purchase the privately owned Productora Tabacalera de Colombia SAS (Protabaco) for $452 million. "This investment will strengthen and complement our position in an important market and fill a strategic gap in our Americas region," said Mark Cobben, BAT's director for its Americas region. British American Tobacco reported that it will fund the cash acquisition with internal resources. British American Tobacco shares fell 0.46% to close at $88.04 yesterday. Read more from Benzinga's Company news.