PMI's Acquisition of Swedish Match: Driving Growth in E-cigarette Market

BusinessPMI by 2FIRSTS.ai
Nov.21.2023
PMI's Acquisition of Swedish Match: Driving Growth in E-cigarette Market
Philip Morris International acquires Swedish Match for $1.6bn, signaling significant strategic importance in e-cigarette market development.

According to a report by Seeking Alpha, Philip Morris International (PMI) has acquired Swedish Match for $1.6 billion. This deal holds significant strategic importance for PMI's development in the e-cigarette market, particularly in advancing the IQOS and ZYN projects.

 

In addition, PMI announced its plan to increase the proportion of revenue from non-combustible products to two-thirds of total revenue in the coming years, reflecting the growing trend of adult smokers transitioning to non-combustible tobacco products.

 

PMI's IQOS product is facing a short-term challenge due to the recent implementation of a ban on heated tobacco products by the European Union on October 23, 2023, with the possibility of this ban being extended to other countries by 2024.

 

We welcome news tips, article submissions, interview requests, or comments on this piece.

Please contact us at info@2firsts.com, or reach out to Alan Zhao, CEO of 2Firsts, on LinkedIn


Notice

1.  This article is intended solely for professional research purposes related to industry, technology, and policy. Any references to brands or products are made purely for objective description and do not constitute any form of endorsement, recommendation, or promotion by 2Firsts.

2.  The use of nicotine-containing products — including, but not limited to, cigarettes, e-cigarettes, nicotine pouchand heated tobacco products — carries significant health risks. Users are responsible for complying with all applicable laws and regulations in their respective jurisdictions.

3.  This article is not intended to serve as the basis for any investment decisions or financial advice. 2Firsts assumes no direct or indirect liability for any inaccuracies or errors in the content.

4.  Access to this article is strictly prohibited for individuals below the legal age in their jurisdiction.

 

Copyright

 

This article is either an original work created by 2Firsts or a reproduction from third-party sources with proper attribution. All copyrights and usage rights belong to 2Firsts or the original content provider. Unauthorized reproduction, distribution, or any other form of unauthorized use by any individual or organization is strictly prohibited. Violators will be held legally accountable.

For copyright-related inquiries, please contact: info@2firsts.com

 

AI Assistance Disclaimer

 

This article may have been enhanced using AI tools to improve translation and editorial efficiency. However, due to technical limitations, inaccuracies may occur. Readers are encouraged to refer to the cited sources for the most accurate information.

We welcome any corrections or feedback. Please contact us at: info@2firsts.com

Special Report | 71 U.S. Lawmakers Seek to Elevate Illicit Vape Crackdown to U.S.–China Trade Negotiations
Special Report | 71 U.S. Lawmakers Seek to Elevate Illicit Vape Crackdown to U.S.–China Trade Negotiations
U.S. Rep.Mike Carey and 70 other Republican lawmakers have urged federal officials to elevate the crackdown on illicit vapes to the U.S.–China trade agenda. In a March 4 letter to the Treasury Secretary and the U.S. Trade Representative, they warned that unauthorized vape products pose risks related to national security, youth protection and organized crime. The signatories represent about one-third of House Republicans, highlighting growing congressional attention to illicit vape trade.
Mar.10
PMI Sells Stake in Swedish Match Brazil Business, Including Fiat Lux Brand
PMI Sells Stake in Swedish Match Brazil Business, Including Fiat Lux Brand
Philip Morris International said it is selling its stake in Swedish Match do Brasil, which controls the Brazilian household goods brand Fiat Lux. The buyer is Ignis FIP, a Brazilian private investment vehicle backed by businessman Marcos Fernando Garms. The transaction also includes Swedish Match da Amazônia, but the value of the deal was not disclosed. PMI said the sale is aligned with its vision of a smoke-free future.
Mar.20 by 2FIRSTS.ai
Kazakhstan: Over 131,000 vapes seized in Almaty and Pavlodar case; about $1.422 million cited
Kazakhstan: Over 131,000 vapes seized in Almaty and Pavlodar case; about $1.422 million cited
Kazakhstan’s financial monitoring authorities said a group is suspected of illicitly distributing vaping devices in Almaty and Pavlodar Region, using Telegram as a sales channel with courier delivery. During searches, investigators seized more than 131,000 vapes valued at 711 million tenge (about $1.422 million, using 1 tenge = $0.0020).
Mar.04 by 2FIRSTS.ai
RLX Technology 2025 Revenue Rises 44.0% YoY to Nearly USD 566.1 million, International Business Accounts for 76.5% in Q4
RLX Technology 2025 Revenue Rises 44.0% YoY to Nearly USD 566.1 million, International Business Accounts for 76.5% in Q4
RLX Technology Inc. announced its unaudited financial results for the fourth quarter and full year of 2025. Q4 net revenue reached RMB 1.1413 billion, a 40.3% year-over-year increase, while full-year net revenue grew 44.0% to RMB 3.9589 billion.
Mar.13 by 2FIRSTS.ai
New Zealand Vape Company Alt Becomes Government Partner After Suing Over Nicotine Limits
New Zealand Vape Company Alt Becomes Government Partner After Suing Over Nicotine Limits
Health NZ signed a NZD 500,000 contract with New Zealand-owned vape company Alt NZ Limited in December 2025 for its free vape kit programme for smokers, with more than 7,000 kits distributed so far.
Mar.23 by 2FIRSTS.ai
U.S. Adult Smoking Rate Falls to Historic Single-Digit Low of 9.9%, Study Shows Shift in Nicotine Use Patterns
U.S. Adult Smoking Rate Falls to Historic Single-Digit Low of 9.9%, Study Shows Shift in Nicotine Use Patterns
A new study analyzing National Health Interview Survey data found that adult cigarette smoking in the United States declined to 9.9% in 2024, down from 10.8% in 2023. The findings, published in NEJM Evidence, represent a historic milestone in U.S. tobacco control efforts. Researchers noted that while cigarette smoking is decreasing, the prevalence of e-cigarette and cigar use remained largely unchanged, suggesting a shift in nicotine consumption rather than the elimination of tobacco use.
Market
Mar.20