They get an established mid-tier brand in Camacho without diluting their existing marques, one known for different attributes (full-bodied) than their own (smooth, mild), and they get to leverage their existing marketing, sales, and distibution arm (and therefore drop Camacho's own ops for a green-dollar cost savings).
It appears that General Cigar and Altadis are more interested in doing line extensions rather than looking at new brands outright. So there probably wasn't much of a bidding war.