Acquisition by Altria Group enhances the Possibility of Green Smoke becoming the leader in market of E-Cigarettes
Green Smoke, a very popular brand in USA and Israel in terms of E-Cigs, has been acquired by Altria group is, the transaction is valued $110 million in cash. Altria is very well known group having few very famous brand under it like Marlboro, Copenhagen,
Green Smoke is one of the leading E Cigarettes brands ; it has a huge share of market. The CEO of Altria group, Marty Barring, exclaimed that it is a great virtue to acquire Green Smoke. The reason he gave is the popularity of brand among a large section of people because of its product line, supply chain, very efficient customer service and expertise. With these qualities of Green Smoke, Altria Group can move forward in field of E Cigarette with confidence and use them as a very strong factor in success and growth of the organization as a whole.
Further, Marty Barring added that Green Smokeís culture of innovation and producing high quality product is consistent with the culture of Atria .The company is to pose stiff challenge to other huge giants in US market like Lorillardís Njoy, Logic Technology, together they hold 80% of the market of E Cigs. Lorillard already own one of the top selling brands of E Cigs, Blu Cigs.
E Cigarette Vapor products of Green Smoke are in market since 2009 and the revenue it generated in 2013 was 40$ million. Both rechargeable and Disposable E Cigarettes are available under this brand.
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