Turning Point Brands completed the merger with Standard Diversified in a $178m deal.

Turning Point Brands, a US provider of other tobacco products and adult consumer alternatives, completed the merger with Standard Diversified, which engages in tobacco products and outdoor advertising activities in the US, in a $178m deal. As a result of the merger, the SDI Common Stock ceased trading on the NYSE American. “The transaction significantly improves the public float of our shares outstanding and eliminates the overhang of a controlling holding company structure. We are excited to welcome all of the new shareholders and thank our existing shareholders that participated in the related secondary offering,” Bobby Lavan, TPB CFO.