Announced
Financials
Tags
Switzerland
Acquisition
nicotine products
Private
Majority
tobacco products
Tobacco
Synopsis
Altria Group, one of the world's largest producers and marketers of tobacco, cigarettes and related products, acquired an 80% stake in Burger Sohne, a Swiss tobacco company, for $372m. Burger Sohne will commercialize on!, an oral tobacco-derived nicotine pouch product, worldwide. “We’re excited to add on! to our companies’ terrific non-combustible portfolio,” said Howard Willard, Altria’s Chairman and Chief Executive Officer. “Through our companies and investments, we have access to the leading products and brands in the moist smokeless tobacco, e-vapor and heated tobacco categories. This acquisition will add another non-combustible product to our portfolio in what we believe is a high-potential, rapidly-developing oral TDN products category.”
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