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Category: Business & Finance

  • Black Buffalo Named Official Dip of Major League Fishing

    Black Buffalo Named Official Dip of Major League Fishing

    Black Buffalo Inc. announced that it has been named the “Official Dip of Major League Fishing” under a yearlong marketing partnership spanning the Bass Pro Tour, Fishing Clash Team Series, Tackle Warehouse Pro Circuit, Toyota Series, and Phoenix Bass Fishing League. The agreement integrates the brand across MLF’s social, broadcast, livestream, newsletter, and on-site event channels, including logo placement on 2026 Team Series boat wraps and a major presence at REDCREST 2026 and the Outdoor Sports Expo at Table Rock Lake near Springfield.

    Executives from both organizations said the partnership aligns with the outdoor lifestyle of MLF’s fanbase and Black Buffalo’s adult consumer audience aged 21+, with brand visibility planned across the league’s 360-degree media platform throughout the 2026 season.

  • JTI Adding €300M Factory in Romania

    JTI Adding €300M Factory in Romania

    Japan Tobacco International announced a €300 million investment to build a new, state-of-the-art factory in Ștefăneștii de Jos, marking its next step after more than 30 years of operations in Romania. In a LinkedIn post, JTI said the facility will add nearly 70,000 square meters of production space and feature advanced equipment, 100% renewable energy operations, expanded waste management, and a dedicated water treatment system, underscoring the company’s long-term commitment to sustainable manufacturing in the country.

  • Al Fakher to Debut Nicotine Pouches

    Al Fakher to Debut Nicotine Pouches

    Al Fakher, best known for its hookah products, announced the launch of Al Fakher Nicotine Pouches today (March 31) at the Total Products Expo in Las Vegas, marking the brand’s entry into the tobacco-free oral nicotine category. The product line debuts with four flavors—Frosty Apple, Spearmint, Mango, and Wintergreen—each offered in 4 mg and 8 mg strengths, and will roll out broadly in April 2026 following the show.

  • BAT Malaysia to Trim Workforce

    BAT Malaysia to Trim Workforce

    British American Tobacco Malaysia Bhd said it may reduce its workforce as part of an operational “optimization” linked to the rollout of a new route-to-market distribution model from July 1. In a filing today (March 31), the company said affected employees would receive statutory and contractual entitlements, including retrenchment benefits where applicable. BAT Malaysia reported 283 employees in its 2024 annual report, but the filing did not specify how many roles could be impacted. The company said the move is intended to align staffing with future operating requirements and follows a shift begun in 2022 toward allowing retailers to place orders through online channels, sales representatives, or call centers, a model it previously said could reduce costs by 20% to 25%.

    The announcement comes amid tighter regulation of tobacco products in Malaysia, including a reported plan for a nationwide vape ban starting with disposable products, a 42.8% excise duty increase on tobacco and heated tobacco products under Budget 2026, new pictorial health warnings, and a ban on retail cigarette displays. The Control of Smoking Products for Public Health Act, which took effect in 2024, prohibits the sale of tobacco and vape products to individuals under 18. Shares of BAT Malaysia last traded at RM5.65 ($1.41) at today’s noon break, valuing the company at RM1.61 billion ($403 million).

  • Charlotte’s Web Announces Financials, Deal with BAT

    Charlotte’s Web Announces Financials, Deal with BAT

    Charlotte’s Web Holdings, Inc. announced a transaction with BT DE Investments yesterday (March 30), a subsidiary of British American Tobacco, to convert a $54.2 million convertible debenture plus accrued interest into equity at $0.68 per share and complete a concurrent $10 million private placement, resulting in the issuance of about 110 million shares and a total equity commitment of roughly $75 million. The deal would eliminate about $65 million in debt, stop future interest accrual, and leave the company with no long-term debt, subject to shareholder and TSX approval at a meeting planned for May 28, 2026.

    Today (March 31), the company released its 2025 financials and said it advanced product innovation, in-house manufacturing, and healthcare channel development while holding annual revenue broadly steady at $49.9 million. Fourth-quarter revenue rose 4.7% year over year to $13.3 million, supported by new Brightside low-dose hemp THC gummies, sleep products, functional mushrooms, and minor cannabinoids, though gross margin was affected by a one-time inventory charge tied to legacy gummies. Full-year gross margin improved to 43.5% and SG&A fell 21% to $42 million following cost reductions, narrowing the operating loss to $20.3 million from $32 million in 2024. The company ended the year with $8 million in cash and reported progress toward internalizing gummy production, achieving a clean NSF 455-2 cGMP audit, and establishing a Scientific Advisory Board to support its expanding medical practitioner channel.

    Charlotte’s Web said the strengthened balance sheet will support its planned participation in a Centers for Medicare & Medicaid Innovation pilot enabling access to hemp-derived CBD products for Medicare beneficiaries and ongoing clinical development by DeFloria, its joint venture with BAT and Ajna BioSciences, which is preparing to begin Phase 2 trials of a botanical CBD-based treatment candidate in mid-2026.

  • PM Offers IQOS Specials to Promote Korean Expansion

    PM Offers IQOS Specials to Promote Korean Expansion

    Korea Philip Morris said it will expand retail availability of its new “Electric Purple” color for the IQOS Iluma i One to major convenience stores nationwide from May 2. The color, first introduced on April 10 through the official IQOS online store and nine branded outlets, features a deep purple tone with a bluish tint. To mark the wider rollout, the company will run a promotion through May 20 a discounted price in the 30,000-won ($19.80) range for its devices in all colors.

  • PMI Releases Value Report 2025, Sets Value Plan 2030+

    PMI Releases Value Report 2025, Sets Value Plan 2030+

    Philip Morris International released its Value Report 2025, marking the completion of its 2025 Roadmap and introducing a new Value Plan 2030+ to guide future growth. The report outlines progress in PMI’s shift toward smoke-free products and details performance across business transformation, environmental, and social metrics. In 2025, PMI reported around 43.5 million adult users of its smoke-free products across 106 markets, with smoke-free net revenues reaching $16.9 billion, representing 41.5% of total annual net revenues.

    The company also reported 98% coverage of shipment volumes with youth access prevention programs in indirect retail channels, 91% coverage with anti-littering programs for cigarette butts, and 76% of employees having access to structured lifelong learning opportunities. Among agricultural metrics, PMI said 99.6% of contracted farmers supplying tobacco achieved a living income, while 99.3% of tobacco purchased was at no risk of net deforestation. PMI reported a 46% reduction in absolute Scope 1 and 2 greenhouse gas emissions compared with 2019 and a 31% reduction in Scope 3 Forest, Land, and Agriculture emissions compared with 2010.

    PMI said its Value Plan 2030+ will focus on six priorities: consumers and product health impact, circularity, climate change, nature and biodiversity, its workforce, and workers across its value chain. The company stated the report was prepared with reference to Global Reporting Initiative standards and guidance from the International Sustainability Standards Board.

  • Organigram Shares Results of AGM, Gains Approval for Sanity Acquisition

    Organigram Shares Results of AGM, Gains Approval for Sanity Acquisition

    Shareholders of Organigram Global Inc. overwhelmingly approved the company’s proposed acquisition of Germany-based Sanity Group GmbH and a related private placement with British American Tobacco subsidiary BT DE Investments at a meeting held on March 30. The transaction resolution passed with 93% of votes cast, excluding shares associated with BAT, and authorizes Organigram to issue up to 96.3 million common shares to Sanity Group shareholders and BAT in connection with the deal.

    The acquisition, expected to close in April subject to customary conditions, is positioned to expand Organigram’s presence from its leading position in Canada’s adult-use market into the German medical cannabis sector and establish a broader European operational footprint. Shareholders also approved the election of 10 directors, the reappointment of PricewaterhouseCoopers LLP as auditor, and the approval of unallocated awards under the company’s long-term equity incentive plan.

  • Imperial to Close Langenhagen Plant by 2027

    Imperial Brands announced it will shut down cigarette production at its Reemtsma plant in Langenhagen, Germany, by 2027 after failing to secure a buyer, a move affecting around 600 employees. The site, operating since 1971 and currently producing cigarettes, fine-cut tobacco, and tobacco sticks for heated products, is the last Reemtsma manufacturing location in Germany. Company executive Sami Naffakh said extensive efforts to find a viable solution for the plant’s future had proved unsuccessful, citing high production costs, underutilization, and declining volumes in the traditional tobacco segment.

    Germany’s Food, Beverages and Restaurants Union criticized the process, claiming workers were kept in the dark about buyer discussions, while Imperial Brands said the union had been kept indirectly informed within confidentiality limits. The closure follows an October announcement that the site would either be sold or wound down, with production expected to be phased out over the next two years.

  • American Snuff Expands Manufacturing Workforce

    American Snuff Expands Manufacturing Workforce

    Reynolds American, as part of its $3.2 billion U.S. investment plan, announced that American Snuff Company is adding more than 50 new manufacturing roles at its Clarksville, Tennessee, facility, the company’s second-largest production site. The hiring, expected throughout 2026, includes machine operator and maintenance technician positions with hands-on training to support modern manufacturing and career growth.

    Since 2024, Reynolds American’s investment has already added 1,000 jobs and is projected to create another 1,000 direct and indirect roles across its U.S. operations and supply network. The expansion aligns with the company’s strategy to transition toward smokeless tobacco products while supporting local agriculture and the regional economy. Adriano Rusak highlighted the company’s commitment to providing local opportunities and preparing its workforce for the future.