Philip Morris International, known for its iconic brand of Marlboro cigarettes, which it markets outside the United States, is releasing the checkbook again. In a press release published on Wednesday May 11, the American giant announced that it had made an offer to acquire the Swedish tobacco products group Swedish Match. He says he is ready to pay 16 billion dollars (15.16 billion euros) to seize the snus specialist, a moist tobacco powder placed between the gum and the upper lip and consumed mainly in European countries. North.
Swedish Match has also developed tobacco-free nicotine pouches sold under the Zyn brand; an activity that is experiencing rapid growth in its home market, Scandinavia, but also in the United States. The action of the specialist in “smokeless products” had ignited at the opening of the stock market session, Tuesday, May 10, and had jumped by almost 25%, while the American formalized in a press release the discussions in progress. . The title continued to progress on Wednesday, after the announcement of the offer, which values the action up to 40% compared to its price on Monday.
This acquisition, if confirmed, is part of the strategic shift negotiated by Philip Morris. The company, world leader in tobacco, was born in 2008 from a split between, on the one hand, Altria, carrying the cowboy brand in the United States, and on the other, Philip Morris International, in charge of the market outside the United States. In the summer of 2019, the two companies unveiled a merger project, ready to redo what they had undone. The ace. A month after the publication of the banns, the marriage announced with great fanfare went up in smoke.
17.9 million users
Since then, Philip Morris has accelerated its diversification policy. A way of reacting to the decline in the consumption of traditional cigarettes in many Western countries, prompted by public policies aimed at protecting the health of citizens. The group first promoted its in-house developed Iqos vaping product, saying that in this case the tobacco is heated but not burned. It claims 17.9 million users spread over its various markets and wishes to develop its marketing in the United States.
To increase the share of so-called “smokeless” products, the firm has set its sights on two companies in 2021. It first took over Fertin Pharma, a pharmaceutical laboratory which offers substitute products for cigarettes, such as chewing gum, gum or powder, for 820 million dollars (690 million euros).
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