Supplier News Breaks Archives
Altria to acquire e-cig business of Green Smoke
February 10th, 2014
RICHMOND, Va. – Altria Group Inc.’s subsidiary, Nu Mark LLC, has agreed to acquire the e-vapor business of Green Smoke Inc. and its affiliates for around $110 million in cash, subject to closing adjustments, and up to $20 million in incentive payments.
Green Smoke, which was founded in 2008, has operations in the United States and Israel and has been in the e-cigarette business since 2009. Its 2013 sales were about $40 million.
"Nu Mark’s entry into the e-vapor category with its MarkTen product was an important development in Altria’s innovation strategy," says Marty Barrington, chairman and chief executive officer of Altria. "Adding Green Smoke’s significant e-vapor expertise and experience, along with its supply chain, product lines and customer service, will complement Nu Mark’s capabilities and enhance its competitive position. Further, Green Smoke’s culture of innovation and history of producing high-quality products are consistent with Altria’s culture."