Meanwhile, given the increase in health consciousness and subsequent dwindling smoking rates, the world’s remaining major tobacco companies are striving to switch their businesses from running on cigarette sales, to ones based on the sales of safer alternatives. Recently Philip Morris International Inc’s (PMI) incoming CEO, Jacek Olczak, reiterated the company’s goal of becoming smoke free within the decade.
In fact PMI is currently in advanced talks with Swedish Match AB, discussing a deal that could be valued at about $15 billion and enhance the tobacco giant’s presence on the rapidly-expanding market of smoke-free products. Swedish Match is currently valued at about 117 billion Swedish krona, or almost $12 billion, while Philip Morris has a market value of about $154 billion.
Swedish Match’s brand for Nicotine Pouches has launched a new tobacco flavour
In other news Zyn, Swedish Match’s brand for Nicotine Pouches has launched a new flavour, Tobacco Gold, which is available in medium (3mg) and strong (6mg) strengths. The company said that when developing the product they had in mind those consumers who would have not considered nicotine pouches, due to preferring the taste of tobacco over the selection of other flavours available.
Swedish Match said that Tobacco Gold is the ideal product for those who want to prevent the health risks from tobacco consumption whilst still consuming nicotine. “We’re delighted to be the only major brand to supply tobacco flavour nicotine pouches as we’ve seen this to be the most desired flavour for users,” said country manager of ZYN, Darren Griffin.
Diane, Swedish Match did not sell off the cigar business. They did announce a spin-off of the cigar segment in Sept. 2021, however, this was retracted in March 2022.