Philip Morris snaps up Nicolites

Tobacco manufacturer Philip Morris International (PMI) has announced the acquisition of Nicocigs Limited, the owner of Nicocigs and Nicolites.

This acquisition provides PMI with immediate access to, and a significant presence in, the growing e-cigarette market, and follows on from PMI’s previously announced agreement for the license and distribution of Altria Group’s e-vapor products.

The purchase comes hot on the heels of JTI acquiring E-Lites. Imperial Tobacco and British American Tobacco also have products in the e-cig category.