LONDON, October 1, 2013 /PRNewswire/ --
Acquisition is expected to significantly further SKYCIG e-cigarette innovation and availability on the UK market
SKYCIG, a leading premium electronic cigarette brand, today announces its acquisition by Lorillard, Inc., the third largest manufacturer of cigarettes in the United States and owner of the best- selling e-cigarette brand in the U.S. , blu eCigs. This venture is expected to support the growth of the SKYCIG brand and further improve its status as an innovation leader in the UK e-cigarette market.
SKYCIG, a brand which maintains a high level of control over its supply chain and product development, will become the second e-cigarette brand owned by Lorillard following its acquisition of the USA-based blu eCigs last year. The acquisition of SKYCIG provides Lorillard with a significant European presence in the e-cigarette market, which, alongside its USA presence, positions it as a leading worldwide e-cigarette company.
"We are very excited about this development and what it means for both the SKYCIG brand and for our loyal customers," says Tom Rolfe, Co-Founder of SKYCIG. "We chose to move forward with Lorillard for the exceptional resources and expertise which the company can provide to enable SKYCIG to further both our product innovation and availability. This acquisition will allow us to continue to progress as both the best and the most widely available e-cigarette brand in the UK."
It has been agreed that SKYCIG will function independently as a separate brand under Lorillard's ownership, with current operations continuing as normal for staff, retailers and customers. SKYCIG's current premises in Great Britain will be retained, and further investment in the UK e-cigarette market is expected as the SKYCIG brand continues to grow.
FF&P Advisory advised SKYCIG on the transaction with Mark Winkler as Lead Adviser.
SKYCIG has been the most trusted electronic cigarette brand within the United Kingdom for a number of years. It has established a large market share in the growing industry and has been voted 'Best Electronic Cigarette in the UK' for two years running in 2011 and 2012 by Smoking.com. Electronic cigarettes are regarded as the nation's top smoking alternative and SKYCIG are currently the largest UK based brand, with plans to expand further into other EU e-cigarette markets. Electronic cigarettes have the potential to play an important role in the harm reduction dialogue. As well as SKYCIG providing an attractive alternative to smoking traditional cigarettes, they also offer a variety of different flavours to accommodate everyone's taste buds from Crown Vanilla, Crown Cherry, Crown Menthol, Cinnamon, Tobacco Gold, Crown Tobacco and Classic Tobacco.
About Lorillard, Inc.
Lorillard, Inc. (NYSE: LO), through its Lorillard Tobacco Company subsidiary, is the third largest manufacturer of cigarettes in the United States. Founded in 1760, Lorillard is the oldest continuously operating tobacco company in the U.S. Newport, Lorillard's flagship premium cigarette brand, is the top selling menthol and second largest selling cigarette in the U.S. In addition to Newport, the Lorillard product line has four additional cigarette brand families marketed under the Kent, True, Maverick and Old Gold brand names. These five brands include 41 different product offerings which vary in price, taste, flavour, length and packaging. Lorillard, through its LOEC, Inc. subsidiary, is also the leading electronic cigarette company in the U.S, marketed under the blu eCigs brand. Newport, Kent, True, Maverick, Old Gold and blu eCigs are the registered trademarks of Lorillard and its subsidiaries. Lorillard maintains its headquarters and manufactures all of its traditional cigarette products in Greensboro, North Carolina.
For further information or to arrange an interview with a SKYCIG representative please contact:
Dani Boskovic / email@example.com
Jessica Herman / firstname.lastname@example.org