Altria Completes Acquisition of Green Smoke
E-vapor business will complement Nu Mark
Published in CSP Daily News
RICHMOND, Va. -- Altria Group Inc. has announced that its subsidiary, Nu Mark LLC, has completed the acquisition of the e-vapor business of Green Smoke Inc. and its affiliates. The transaction is valued at approximately $110 million in cash and up to $20 million in incentive payments.
Green Smoke, based in Miami, was founded in 2008 and offers Green Smoke electronic cigarettes and FlavorMax cartridges.
"Nu Mark's entry into the e-vapor category with its MarkTen product was an important development in Altria's innovation strategy," Marty Barrington, Altria's chairman and CEO, said when the deal was announced in early February. "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."
Richmond, Va.-based Altria directly or indirectly owns 100% of each of Philip Morris USA Inc., U.S. Smokeless Tobacco Co. LLC, John Middleton Co., Nu Mark, Ste. Michelle Wine Estates Ltd. (Ste. Michelle) and Philip Morris Capital Corporation. Altria holds a continuing economic and voting interest in SABMiller plc.
The brand portfolios of Altria's tobacco operating companies include Marlboro, Black & Mild, Copenhagen, Skoal and MarkTen. Ste. Michelle produces and markets premium wines sold under various labels, including Chateau Ste. Michelle, Columbia Crest, 14 Hands and Stag's Leap Wine Cellars and it imports and markets Antinori, Champagne Nicolas Feuillatte and Villa Maria Estate products in the United States.