British American Tobacco Buys Dryft Modern Oral Business for Undisclosed Sum
03 Novembre 2020 - 8:55AM
Dow Jones News
By Anthony O. Goriainoff
British American Tobacco PLC said Tuesday that it was expanding
its U.S. portfolio in modern-oral products by acquiring the
nicotine-pouch product assets of Dryft Sciences, LLC for an
undisclosed amount.
The FTSE 100 tobacco company said the acquisition expands the
portfolio's product variants to 28 from four.
The company said it will rebrand Dryft's--a U.S.-based modern
oral nicotine product company--U.S. portfolio under its VELO brand
and that it expects to accelerate growth through its distribution,
marketing and channel capabilities.
British American Tobacco added that it expects to accelerate the
growth of its new category revenue at a faster rate than its total
revenue, and that it expects revenue in 2025 to reach 5 billion
pounds ($6.46 billion).
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
November 03, 2020 02:40 ET (07:40 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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