American e-cigarette manufacturer NJOY LLC could be sold soon, according to the Wall Street Journal. The NJOY brand has a long history as a leader in the U.S. vaping market.
NJOY has hired bankers to advise it on possible deals. According to the Journal, the company could be valued as high as $5 billion—higher than the current valuation of Juul Labs, which has about 10 times greater market share than NJOY.
Potential buyers would likely come from the ranks of major tobacco companies, including Imperial Brands, Philip Morris International, Japan Tobacco, and possibly even Altria. British American Tobacco could also be a buyer if its popular Vuse Alto device doesn’t receive FDA authorization.
Jim McDonald – Vaping360 – 2022-07-20
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