File Image: IOL
Cape Town – British American Tobacco South Africa (BATSA) has signed an agreement to acquire 100% of Twisp Proprietary Limited, a vapour company based in SA.
BAT said in a statement its aim is to grow the next generation products (NGP) category to offer consumers a choice of alternatives to smoking.
This deal will push foward the company’s goal of expansion into the South African market.
BATSA CEO Soraya Benchikh said Twisp is a leading vaping supplier in SA and that the acquisition will contribute towards BAT’s growth and sustainability.
“We already have a large footprint elsewhere in the world. We are committed to the growth of our NGP business and it was only natural that we extend our offering in SA with a range that is familiar to this market. We are excited about acquiring a leading vapour brand and the opportunities it presents,” said Benchikh.
Closing of the acquisition, which is subject to SA anti-trust approval and other conditions, is expected to be completed by mid-2018.
– BUSINESS REPORT ONLINE
Source: IOL – Markets
British American Tobacco SA acquires Twisp