Imperial Acquires US Nicotine Pouches Range for GBP65 Million
June 23 2023 - 8:09AM
Dow Jones News
By Michael Susin
Imperial Brands said Friday that it has acquired a range of
U.S.-commercialized nicotine pouches from Canadian TJP Labs for an
initial consideration of 65 million pounds ($82.8 million).
The FTSE 100 tobacco group--which houses Davidoff, Gauloises and
JPS among its brands--said that its U.S. subsidiary ITG Brands will
offer a range of 14 product variants and relaunch them in 2024
under a new brand.
The deal includes an additional sum based on sales volumes over
five years, it added.
"While it will take time to build our presence in this category,
the proposition we are acquiring is clearly differentiated within
the U.S. market and has tested strongly with consumers," Imperial
Brands Chief Executive Stefan Bomhard said.
Shares at 1125 GMT were up 11.0 pence, or 0.6%, at 1,765
pence.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
June 23, 2023 07:54 ET (11:54 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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