Imperial Tobacco Group (ITG) announced on its official website that it has acquired the nicotine pouch business of Canada's TJP Laboratory for a price of £65 million. This move is aimed at expanding its presence in the US oral tobacco market.
After the completion of the acquisition, ITG has decided to reintroduce the series of products, totaling 14, under a completely new brand in the United States by the year 2024. Meanwhile, TJP will continue to manufacture nicotine pouches for ITG as per their contractual agreement.
Kim Reed, President and CEO of ITG, stated, "This presents us with an opportunity to expand our business in the United States with next-generation products, allowing us to offer a wider range of choices to legal adult consumers. We are looking forward to a long and successful partnership with TJP Laboratory.
David Richmond-Peck, CEO of TJP Laboratory, expressed in an interview the company's excitement about building a strong and lasting partnership with Empire, which has proven expertise in brand development, marketing, and sales execution in the United States. Empire has a long-standing track record of responsible operations on a global scale. This deal aligns with TJP Laboratory's commitment to developing and manufacturing products that promote global injury reduction, consumer choice, and flexibility.
It is reported that ITG has been promoting modern oral products in certain European markets under the brand names Zone X and Skruf.
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