An intense September for the tobacco-alternatives industry is not over yet. Swedish Match has suddenly announced that the company is to become 100% smoke-free by next year with the separation of its cigar business in the US, a decision that is likely to have an impact in the market.
The Stockholm-based company is set to become the first tobacco manufacturer to stop making all combustible tobacco products.
It says this comes after a “thorough strategic review” of its business and that from now on it wants to focus on building its presence in the modern oral category – snus and nicotine pouches.
The spin-off process is expected to be completed in the second half of 2022 “at the earliest”. A new stand-alone company will be set up to continue the exploration of the existing cigar business.
“This announcement is another milestone toward achievement of our aspiration to become an entirely smoke-free organisation with a clear leadership position in oral reduced risk products, including ZYN, the largest modern oral brand in the US and globally,” said Lars Dahlgren, president and CEO of Swedish Match.
David Palacios Rubio – Tobacco Intelligence – 2021-09-15.
Want More Investigative Content?
