British American Tobacco South Africa (BAT SA) is buying South Africa’s biggest vaping company‚ Twisp, reports Business Day.
Based in Cape Town‚ BAT SA said it wanted to expand its next-generation products business and offer consumers a choice of “compelling and innovative” alternatives to smoking.
Twisp‚ which started operating in 2008‚ markets several vaping devices and produces its flavors at a pharmaceutical laboratory in Cape Town. It has 66 shops nationwide.
“We are extremely pleased that Twisp will be part of the BAT family,” BAT SA CEO Soraya Bencic was quoted as saying.
“This acquisition will contribute towards BAT’s growth and sustainability and will enhance our contribution to the country’s current and future economic growth. We are committed to the growth of our next-generation products business and it was only natural that we extend our offering in SA with a range that is familiar to this market.”
The acquisition‚ which is subject to approval by competition authorities‚ is expected to be complete by mid-2018.