Nicocigs LTD bought by Philip Morris International

Nicocigs Ltd, which sells a range of electronic cigarettes and is presented as one of the leaders on the British market, has just been bought by Philip Morris International, the largest privately owned cigarette manufacturer in the world.

Several major players in the tobacco market have made similar acquisitions in recent weeks. Japan Tobacco bought another leader of the British electronic cigarette market, Zandera Ltd, the parent company of the E-Lites brand. In the same vein, Imperial Tobacco, the main tobacco manufacturer in the United Kingdom, announced the launch of its Puritane e-cig, while London-based British American Tobacco (BAT) did likewise with its new Vype e-cigarette.

Nicocigs UK, with its Nicolite brand, has become the leading retailer of electronic cigarettes in England, with around 27% of the market and close to 1.3 million regular e-cig users.

With this first investment, Philip Morris International enters the electronic cigarette market through the front door, and has even announced the launch of next-generation products.

“This acquisition of Nicocigs Ltd gives us an immediate and significant presence in the growing electronic cigarette sector in the United Kingdom”, said Drago Azinovic, president of Philip Morris International’s European division.