Philip Morris finally wins backing for £13bn Swedish Match deal cigarette push Malboro maker Philip Morris International finally wins support for its $15.7bn takeover of Swedish Match, despite securing slightly less than 90 per cent of backing. PMI said said it nabbed 82.59 per cent of the Swedish company, short of the 90 per cent level at which it can start a compulsory purchase of remaining shares. [...]
Juul eyes up investor bailout as it fends off US regulatory hurdles cigs banned JUUL is reportedly in talks with two of its top investors about a potential bailout as the vaping giant fends off US regulators. As first reported by the Wall Street Journal (WSJ), Hyatt Hotels heir Nick Pritzker and Riaz Valani are weighing up whether to cover the firm’s operations and near term legal liabilities. The [...]
Tobacco chief denies unfair Western focus for vape strategy vape nation Top dog at cigarette giant British American Tobacco (BAT) has pushed back against claims that the company’s focus for smoking alternatives has unfairly focused on the West, calling this narrative “superficial”. Speaking to City A.M., chief marketing officer Kingsley Wheaton said that whilst it was “certainly true” that the northern hemisphere have a “more advanced [...]
Vaping hits record high with over four million Brits turning to e-cigarettes August 29, 2022 New data has revealed that there are now five times as many vapers in the UK than there were in 2012, as the e-cigarette revolution takes off.
Rizla maker Imperial Brands struggles with revenue growth amid Russian exit and tobacco alternatives May 17, 2022 Rizla maker Imperial Brands saw revenue drop 1.3 per cent to £15.3bn, as the company continues to pivot towards tobacco alternatives across the world.
Malboro maker Philip Morris snaps up smokeless cigarette rival Swedish Match for £13bn May 11, 2022 Malboro maker Philip Morris International (PMI) has agreed to snap up European smokeless tobacco rival Swedish Match for $16n (£13bn) in a push to expand its tobacco alternatives.
Malboro maker Philip Morris eyes up rival Swedish Match for £12bn May 9, 2022 Malboro maker Philip Morris in in talks to acquire European smokeless tobacco rival Swedish Match for an estimated $15bn (£12bn)
Tobacco staff banned from global smoking research conference for ‘unprofessional’ behaviour August 21, 2021 The Society for Research on Nicotine and Tobacco have banned tobacco industry employees from attending its annual conference, following complaints about the “problematic behaviour” of tabacco staff. The decision to ban tobacco company employees from the conference came after a two-year long review by the international body, according to a report in The Times. It [...]
Vaping saves lives, so let us resist the temptation to panic over e-cigarettes November 4, 2019 Over recent weeks, there have been many headlines about several deaths and respiratory illnesses in the US linked to e-cigarettes. First, it is absolutely right that public health authorities are investigating these events with the seriousness that they deserve. However, for the 3.6m smokers in the UK who have successfully quit smoking completely by switching [...]
Vaping backlash hits Altria for $4.5bn October 31, 2019 The backlash from the crackdown on vaping has knocked Altria for $4.5bn (£3.5bn) today, as its 35 per cent stake in e-cigarette maker Juul turned sour. The company reported a net loss of $2.60bn, or $1.39 per share in the third quarter ended 30 September, from a profit of $1.94bn, or $1.03 per share. Read [...]