Philip Morris International in Advanced Talks to Acquire Swedish Match

Events by VapingPost
May.17.2022
Philip Morris International in Advanced Talks to Acquire Swedish Match
The venture would support PMI’s effort to generate more than 50% of its revenue from smoke-free products.

currently valued at about 117 billion Swedish krona, or almost $12 billion, while Philip Morris has a market value of about $154 billion.

 

In September 2021 Swedish Match had announced plans of a spinoff on its remaining cigar business, plans which were suspended in March 2022. Nevertheless, the tobacco company has been praised for being a pioneer in starting its journey towards becoming smokefree back in 1999 when it sold its cigarette business. Discussing the move, renowned tobacco control pioneer David Sweanor, an adjunct law professor in Canada, had highlighted that the brand has never gotten the credit it deserves for branching into smoking cessation products, at a time when no other company was.

 

Meanwhile, given the increase in health consciousness and subsequent dwindling smoking rates, the world’s remaining major tobacco companies are striving to switch their businesses from running on cigarette sales, to ones based on the sales of safer alternatives. Recently Philip Morris International Inc’s (PMI) incoming CEO, Jacek Olczak, reiterated the company’s goal of becoming smoke free within the decade.

 

In fact PMI is currently in advanced talks with Swedish Match AB, discussing a deal that could be valued at about $15 billion and enhance the tobacco giant’s presence on the rapidly-expanding market of smoke-free products. Swedish Match is currently valued at about 117 billion Swedish krona, or almost $12 billion, while Philip Morris has a market value of about $154 billion.

 

Swedish Match’s brand for Nicotine Pouches has launched a new tobacco flavour

 

In other news Zyn, Swedish Match’s brand for Nicotine Pouches has launched a new flavour, Tobacco Gold, which is available in medium (3mg) and strong (6mg) strengths. The company said that when developing the product they had in mind those consumers who would have not considered nicotine pouches, due to preferring the taste of tobacco over the selection of other flavours available.

 

Swedish Match said that Tobacco Gold is the ideal product for those who want to prevent the health risks from tobacco consumption whilst still consuming nicotine. “We’re delighted to be the only 

major brand to supply tobacco flavour nicotine pouches as we’ve seen this to be the most desired flavour for users,” said country manager of ZYN, Darren Griffin.

 

Source:VapingPost