Japan Tobacco Inc. (JT) has announced that it has concluded an agreement that will see it take ownership of the e-cigarette brand E-Lites.
Under the terms of the agreement, JT is to acquire all the outstanding shares of Zandera Ltd. which JT described as offering the most recognized range of high quality rechargeable and ready-to-use e-cigarettes in the UK.
“Our investment in Zandera provides the JT Group with an excellent entry-point into the fast-growing e-cigarette category”, commented Masamichi Terabatake, Executive Vice President and Deputy CEO of Japan Tobacco International. “With E-Lites’ well-established brand and product portfolio, we are able to offer adult consumers another important extension to our growing range of emerging and innovative products such as tobacco vapor pods (Ploom)”.
Adrian Everett, co-founder and CEO of Zandera, added: “With access to the JT Group’s global distribution muscle as well as their research & development expertise, proven commitment to quality assurance and vision for emerging products, we look forward to growing the business and further enhancing E-Lites’ product offering”.
JT said that it expected to complete the acquisition in the second quarter of the fiscal year 2014 following regulatory clearance. It did not disclose the value of the deal.
Source: Japan Tobacco