E-cigarette maker NJOY hires bankers for possible sale - WSJ

Industry Insight
Jul.20.2022
E-cigarette maker NJOY Holdings Inc has hired bankers for a possible sale of the company, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.

Adds details from the report, background

E-cigarette maker NJOY hires bankers for possible sale - WSJ

July 19 (Reuters) - E-cigarette maker NJOY Holdings Inc has hired bankers for a possible sale of the company, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.

 

The report added the privately held NJOY is likely to be valued at up to $5 billion, according to the sources who cautioned the process was still at an early stage and there was no guarantee a deal would materialize. (https://on.wsj.com/3PHG41Y)

 

If NJOY does not receive a high enough valuation, the company could raise money and stay private, potentially paving the way for a future initial public offering, the Wall Street Journal said.

 

The e-cigarette maker is simultaneously exploring a new fundraising round and aims to raise between $300 million and $500 million, the report added.

 

 

NJOY and Mudrick Capital Management, a majority owner of the company, did not immediately respond to a Reuters request for comment.

 

Late June, Bernstein analyst Callum Elliott wrote in a note that Altria could try to buy privately owned NJOY, which has already succeeded with its PMTA (Premarket Tobacco Product Application) process applications.

 

Rival Juul Labs Inc said on Friday it was in the early stages of exploring several options, including financing alternatives, as the company deals with lawsuits and a probable ban on sales of its e-cigarettes by U.S. health regulators.

 

(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Krishna Chandra Eluri)

 

The content excerpted or reproduced in this article comes from a third-party, and the copyright belongs to the original media and author. If any infringement is found, please contact us to delete it. Any entity or individual wishing to forward the information, please contact the author and refrain from forwarding directly from here.

French Anti-Tobacco Group Contre-Feu Calls for Plain Packaging Across All Vaping Products
French Anti-Tobacco Group Contre-Feu Calls for Plain Packaging Across All Vaping Products
French anti-tobacco group Contre-Feu said in a statement released on April 14 that e-cigarette manufacturers are encouraging nicotine dependence among young people through targeted marketing and called for concrete measures to protect minors. The group asked for plain packaging for all vaping products, strict regulation of flavor names, and a ban on online sales.
Apr.15 by 2FIRSTS.ai
More Than 500 Stores in Russia’s Nizhny Novgorod Region Voluntarily Stop Selling Vapes
More Than 500 Stores in Russia’s Nizhny Novgorod Region Voluntarily Stop Selling Vapes
According to the Nizhny Novgorod regional government, 550 stores in the region have voluntarily removed vapes and e-liquids from their product assortments. Regional officials said a public offer encouraging businesses to self-restrict vape sales has been in place since September 2025, and that a large retail chain with more than 40 outlets in Nizhny Novgorod joined the initiative. The regional government also said a federal ban on vape sales is expected in the near future.
Apr.15 by 2FIRSTS.ai
UK Tobacco and Vapes Bill Receives Royal Assent, Banning Tobacco Sales to People Born After 2008
UK Tobacco and Vapes Bill Receives Royal Assent, Banning Tobacco Sales to People Born After 2008
The UK government announced on April 29 that the Tobacco and Vapes Bill had received Royal Assent and become law. Under the new law, it is illegal to sell tobacco to anyone born on or after Jan. 1, 2009. The government said the law creates the UK’s first “smoke-free generation” and includes measures to ban the advertising and sponsorship of vapes and nicotine products, as well as powers to restrict packaging, branding and displays designed to appeal to children.
Apr.30 by 2FIRSTS.ai
South Dakota Legislature Approves Two Nicotine Licensing Bills Pending Governor’s Decision
South Dakota Legislature Approves Two Nicotine Licensing Bills Pending Governor’s Decision
The South Dakota Legislature gave final approval on Tuesday to two proposals requiring state licenses for businesses that sell nicotine products. Under the bills, wholesalers, distributors and retailers of nicotine products in the state would need to be licensed by the government.
Mar.12 by 2FIRSTS.ai
Imperial Brands Expects Low-Single-Digit Tobacco and NGP Net Revenue Growth in H1
Imperial Brands Expects Low-Single-Digit Tobacco and NGP Net Revenue Growth in H1
Imperial Brands released a trading update on April 14, reiterating its FY26 guidance and saying its 2030 transformation has started positively. The company said it still expects low-single-digit tobacco net revenue growth, double-digit NGP net revenue growth, 3.00% to 5.00% growth in Group adjusted operating profit, at least high-single-digit earnings per share growth, and at least GBP 2.2 billion in free cash flow for the full year.
Apr.14 by 2FIRSTS.ai
FDA Opens Public Comment Period on Draft Guidance for Flavored E-Cigarette Applications
FDA Opens Public Comment Period on Draft Guidance for Flavored E-Cigarette Applications
The U.S. Food and Drug Administration’s Center for Tobacco Products announced an open public comment period for a draft guidance titled Flavored Electronic Nicotine Delivery Systems (ENDS) Premarket Applications – Considerations Related to Youth Risk.
Apr.09 by 2FIRSTS.ai