BAT buys nicotine-pouch assets in move to expand its footprint

DURBAN – British American Tobacco (BAT) said on Monday that it was expanding its footprint in the US by acquiring Dryft Sciences nicotine-pouch product assets.

The group said the acquisition, which it did not reveal the deal value, would boost its US portfolio in Modern Oral nicotine, a fast-growing category in that country, and it would grow from four to 28 products variants after the acquisition.

Chief executive Jack Bowles said: “The addition of Dryft to our US Velo brand is a major step forward, further enhancing our successful vaping and oral portfolio.”

It is not the first time that BAT has made forays into the US market in terms of acquisitions.

In 2017 BAT boosted its next generation products by acquiring 57.8 percent of Reynolds that it did not already own for $54.5 billion (R885bn).

Source: iol.co.za