Altria in Talks to Buy Vaping Startup NJOY

Feb.28.2023

Altria in Talks to Buy Vaping Startup NJOY

Altria reportedly in talks to acquire NJOY, the third-largest e-cigarette brand in the US, for $2.75 billion.

On February 27th, The Wall Street Journal reported that Altria Group (MO.N) is in talks to acquire US third largest e-cigarette brand, NJOY, for $2.75 billion, citing anonymous sources. It is reported that NJOY has received PMTA approval from FDA for a total of 6 products.

The outcome of this transaction could be announced as early as this week, but reports suggest that there is still a possibility of failure in the negotiations.

List of PMTA-approved products in 2022 | Source: FDA2FIRSTS will continue to follow this report, stay tuned.

Reference(s):

Cigarette manufacturer Altria is currently negotiating to purchase vaping startup NJOY for a minimum of $2.75 billion. As part of this deal, Altria is also planning to sell its existing shares in Juul.

#North America #United States #Open system e-cigarettes #Market #Altria #NJOY

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