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)

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