Imperial Brands, the UK-headquartered tobacco and next-generation product (NGP) manufacturer, has announced the acquisition of Swedish modern oral nicotine business Yoik Group.
Yoik Group is the owner of Helwit, a modern oral challenger brand with a 3.4% domestic market share in Sweden, Europe’s largest modern oral nicotine market. Helwit is described as featuring a flavour-led portfolio, distinct Swedish design, and an online sales presence across Europe alongside select UK retail distribution. Imperial Brands stated that the transaction more than doubles its existing modern oral market share in Sweden.
The transaction involves an initial consideration of 515 million SEK ($52.2 million) alongside an additional performance-based deferred sum payable over two years. As part of the transaction, the Yoik Group team, including the founders, will join Imperial Brands.
Commenting on the deal, Aleš Struminský, Europe Region president at Imperial Brands, said: “This acquisition reflects our disciplined approach to strengthening our NGP portfolio in markets where we have an existing presence and see attractive long-term growth opportunities”.
Henrik Boson, CEO of Yoik, added: “We built Helwit hand-in-hand with our consumers to develop the distinctive flavours and pouch experience they wanted. We are excited about combining this approach and our proven portfolio with Imperial’s commercial scale to continue breaking new ground”.
Imperial Brands has an existing presence in the Swedish market through its local subsidiary Skruf in both novel oral nicotine and snus.
Source: Imperial Brands
