Imperial Acquires US Nicotine Pouches Range for GBP65 Million
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.-
4 Wide-Moat Stocks to Buy for the Long Term While They’re Undervalued Today
-
Markets Brief: Four Stocks Made Up 80% of the Gains. Can It Last?
-
Is It Time to Ditch Your Money Market Fund for Longer-Term Bonds?
-
What’s Happening In the Markets This Week
-
4 Reasons Why Today’s Stock Market Is Delivering Impressive Performance
-
What Does Nvidia’s Stock Split Mean for Investors?
-
5 Undervalued Stocks to Buy as Their Stories Play Out
-
Markets Brief: Return of the Meme Stocks
-
GE Aerospace Stock Has Skyrocketed 86%. Is It a Buy?
-
2 Undervalued Dividend Stocks the Best Managers Are Buying
-
Tesla: Shareholder Vote Reduces Key Person Risk
-
After Earnings, Is CrowdStrike Stock a Buy, a Sell, or Fairly Valued?
-
Adobe’s Strong Quarterly Results Drive Share Gains
-
What Does Broadcom’s Stock Split Mean for Investors?
-
5 Ultracheap Stocks to Buy With the Best Returns on Investment
-
Broadcom Earnings: AI Sales Growth Accelerates