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Slide #3. Lorillard, Inc. — SKYCIG
Lorillard, Inc. (LO)
Lorillard, Inc. (NYSE: LO), the third largest manufacturer of cigarettes in the United States, announced today that it has acquired all of the assets and operations of SKYCIG, a British-based electronic cigarette (e-cigarette) business for approximately 30 million in cash paid at closing and additional contingent consideration of up to an additional 30 million to be paid in 2016 based on the achievement of certain financial performance benchmarks.
Lorillard is a manufacturer of cigarettes. Newport, Co.'s main cigarette brand, includes both menthol and non-menthol product offerings. In addition to the Newport brand, Co.'s product line has four additional brand families marketed under the Kent, True, Maverick, and Old Gold brand names. As of Dec 31 2014, these five brands included 45 different product offerings. Co., through its other subsidiaries, is also a global electronic cigarette company, marketed under the blu eCigs brand. Co. sells its products primarily to wholesale distributors, who in turn service retail outlets, chain store organizations, and government agencies, including the U.S. Armed Forces.
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Hold (2.20 out of 4)
(ranked higher than approx. 100% of all stocks covered)
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