Altria Acquires NJOY Holdings, Inc.
June 1, 2023
Altria Group, Inc. has completed its acquisition of NJOY Holdings, Inc., adding the FDA-authorized NJOY ACE e-vapor product to its smoke-free portfolio. The transaction involved approximately $2.75 billion in cash funding (financed via a $2.0 billion term loan, commercial paper and available cash) and includes up to $500 million in contingent payments tied to regulatory outcomes. Altria said NJOY will be marketed by NJOY, LLC (a wholly owned subsidiary) and that NJOY results will be reported within its "All Other" category; the company updated 2023 adjusted diluted EPS guidance to reflect investments behind commercialization of ACE.
- Buyers
- Altria Group, Inc.
- Targets
- NJOY Holdings, Inc.
- Industry
- Consumer Products
- Location
- Arizona, United States
- Transaction Type
- Buyout
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