Swedish Match

Swedish Match is a Swedish company that produces snus, tobacco, cigars, matches and lighters. The most famous brand is the Cricket lighter. The company was founded in 1915 under the name Svenska Tändsticksaktiebolaget by Ivar Kruger in Jönköping. The company has its current name since 1980.

History

2022: Philip Morris acquires Swedish Match for $16.1 billion

In early May 2022, Philip Morris agreed to buy Swedish Match, a producer of snus, chewing tobacco and other non-smoking tobacco products, for $16.1 billion.

Swedish Match announced in May 4, 2022 that it had received an offer from Philip Morris and recommended that shareholders accept it, according to information The. Wall Street Journal Philip Morris will pay $4.40 for each Swedish Match share. This is 39% higher than their value at the close of the market.

Philip Morris bought lighter manufacturer Cricket for $16 billion

Philip Morris brands include Marlboro outside the United States, but like other tobacco companies, the company is moving into the smokeless cigarette alternatives market. In 2021, it acquired the British inhaler company Vectura. Philip Morris said in a statement that its plans do not include any significant changes to Swedish Match's operating facilities, its management and employees, including their terms of employment.

{{quote 'Will create a global champion in the fight against smoking - enhanced by a complementary geographical presence, commercial opportunities and product portfolio - and will open up significant opportunities for growth in the United States and internationally, "said Philip Morris Executive Director Jacek Olczak. }} Against the background of the gradual refusal of the population of developed countries from smoking cigarettes since 2014, Swedish Match sold its foreign cigarette operations in 1999, leaving itself only a cigarette business and focusing on the development of non-smoking tobacco products. In 2010-2014, the company experimented with promoting snus in many markets, including Russia, India, and South Africa. However, since 2020, the influence of world tobacco giants has been seriously shaken by the increasing struggle of the authorities against smoking, the public trend to abandon smoking, high-profile litigation and tighter control of regulators over the sale of cigarettes. This led tobacco companies to actively invest in alternative market segments such as tobacco heating systems, vapes, and e-cigarettes.^[1]

Notes