Blu Cigs Acquired by Lorillard Inc.
It has recently come to my attention that Lorillard Inc, a major U.S tobacco retailer (the makers of popular cigarette brands including Kent and Newport) has purchased the e-cigarette brand Blu Cigs for the sum of $135 million dollars. I’m excited about this move, as I feel that with Lorillard’s resources the Blu Cigs brand will continue to improve in quality. I’m curious to see if other major tobacco companies will follow suit and purchase other e-cigarette companies.
CHARLOTTE, N.C., April 25, 2012 /PRNewswire/ – blu ecigs is extremely proud and excited to announce today our acquisition by one of the largest and oldest companies in America, Lorillard, Inc. Lorillard, through its Lorillard Tobacco Company subsidiary, is the third-largest manufacturer of cigarettes in the U.S and has a long and proud tradition that will complement the passion of blu ecigs in the emerging electronic cigarette category.
“This is a very exciting move for me and my team. I am particularly excited about what this means for the brand and our customers. It gives us access to the tremendously experienced team and resources at Lorillard and will allow us to move to the next level on our expansion and product development. I’m happy to say that now as part of Lorillard, blu ecigs will be able to deliver an even greater level of quality and innovation to its customers that they have come to expect from blu. I can’t wait to get started on this next phase and to see the response from our amazing customers.” Jason Healy, President and co-founder of blu.
In conjunction with this announcement everyone at blu would like to extend a huge thank you to all of our customers for their outstanding support and loyalty to a brand we are so proud to represent. We can’t wait to serve you in the future as we continue to grow and unveil new products and services.
From an operational point of view, it will be business as usual for our customers, retailers and other partners through a normal transitional period. Following this transition, we look forward to expanded distribution capabilities that will be communicated in the near future.
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