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Category: Business & Finance

  • 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.

  • KT&G Outlines Growth and Innovation Plans

    KT&G Outlines Growth and Innovation Plans

    KT&G CEO Bang Kyung-man said the company will maintain a stable growth trajectory despite headwinds from protectionist trade policies and high exchange rates. Speaking at the annual shareholders’ meeting in Daejeon, Bang emphasized strengthening profitability and efficiency on the foundation of existing growth.

    KT&G plans to enhance the profit structure of its overseas cigarette business through country-specific pricing strategies and full-scale operation of its “local complete production system.” The company also aims to boost competitiveness in the NGP (next-generation products) segment, including cigarette-type e-cigarettes, by accelerating R&D-driven innovation and leveraging global partnerships.

    Bang highlighted a commitment to shareholder returns, including dividend expansion and share buybacks, and reaffirmed KT&G’s role as a leading company in South Korea’s valuation industry. At the meeting, shareholders approved the 39th financial statements, amendments to the articles of incorporation, changes to director compensation, appointments of outside directors and audit committee members, and the treasury share disposal plan.

  • 22nd Century Debt-Free in Announcing 2025 Results

    22nd Century Debt-Free in Announcing 2025 Results

    22nd Century Group, Inc. reported its fourth-quarter and full-year 2025 results, highlighting strategic growth and a strengthened financial position. The company emphasized expansion of its VLN and Partner VLN product lines, increased retail distribution, and progress toward profitability. CEO Larry Firestone noted that 2025 saw a shift to higher-margin branded products, partnerships with major retailers, and the development of a tobacco harm-reduction category. The company ended 2025 debt-free with $7.1 million in cash and eliminated over $8 million in legacy debt, also receiving a $9.5 million insurance settlement from its 2022 Grass Valley facility fire.

    Financially, fourth-quarter net revenues were $3.5 million, down from $4 million in Q3, while net loss improved to $2.8 million versus $3.8 million previously. Adjusted EBITDA loss narrowed to $2.4 million. For the full year, net revenues were $17.6 million, down 28% from 2024, with a net loss of $13.1 million. Product-wise, cigarette sales increased slightly to $2.6 million in Q4, VLN product sales continued to grow with 8,800 cartons shipped, and Pinnacle VLN expanded to nearly 1,500 stores in a top-5 convenience chain.

    Looking ahead, 22nd Century plans to expand retail availability, increase consumer awareness, scale VLN distribution globally, and maintain active engagement with FDA regulators and public health stakeholders.

  • EG America and RJR’s Reconfigured Planogram Paying Off

    EG America and RJR’s Reconfigured Planogram Paying Off

    EG America’s said its backbar optimization strategy is driving significant results, with modern oral nicotine products achieving double-digit volume growth in 2025 and outpacing industry trends in the segment. Operating more than 1,500 locations, the retailer partnered with R.J. Reynolds to expand its VELO Plus synthetic nicotine pouch line, using analytics and supplier collaboration to optimize space and assortment. By reallocating underperforming areas and adding new facings without disrupting category balance, EG America created a planogram designed for growth, supporting top-selling segments while maintaining overall visibility.

  • JT Takes $710M Dividend, Little Impact on Consolidated Results

    JT Takes $710M Dividend, Little Impact on Consolidated Results

    Japan Tobacco Inc. announced that its consolidated subsidiary, JT International Holding B.V., will distribute a dividend of approximately JPY 110.1 billion ($710 million) to Japan Tobacco, with receipt planned for March 26. The dividend will be recorded as non-operating income in JT’s non-consolidated financial statements for FY2026, but it is not expected to materially affect the company’s consolidated financial results for the year.

  • JTI Posts 12% Revenue Increase in Posting 2025 Financials

    JTI Posts 12% Revenue Increase in Posting 2025 Financials

    Japan Tobacco published its financial statements and independent auditor’s report for the 2025 fiscal year yesterday (March 24). The company reported strong year-on-year growth in 2025, with revenue rising to ¥3.5 trillion ($21.9 billion) from ¥3.06 trillion ($19.3 billion) in 2024 and gross profit increasing to ¥2 trillion ($12.3 billion). Operating profit more than doubled to ¥867 billion ($5.5 billion), driven by higher income and significantly lower selling and administrative expenses, while profit before tax climbed to ¥739.8 billion ($4.7 billion). Net profit for the period surged to ¥513.2 billion ($3.2 billion), up from ¥182.6 billion ($1.2 billion) the previous year, with earnings per share nearly tripling. Comprehensive income also rose sharply to ¥686.4 billion ($4.3 billion), reflecting stronger foreign exchange gains and overall improved performance.

    According to Investing.com, JT’s outlook for 2026 remains optimistic, with an expected core revenue increase of 3.6% and an 8.9% rise in adjusted operating profit at constant currency. The company plans to invest ¥800 billion ($5 billion) in reduced-risk products (RRP) from 2026 to 2028, focusing on consumer acquisition and retention. JT is also exploring mergers and acquisitions opportunities to further strengthen its position in both combustibles and RRP markets.

  • KT&G’s Overseas Sales Up 29%

    KT&G’s Overseas Sales Up 29%

    KT&G announced today (March 24) that its super-slim cigarette brand Esse saw its overseas cigarette revenue jump 29.4% year-on-year to 1.9 trillion won ($1.3 billion) last year, becoming the “first Korean cigarette brand to surpass 1 trillion won in overseas sales.” KT&G also said it was the first time its global cigarette sales exceeded its domestic revenue.

    According to the company, Esse, now sold in more than 90 countries, has built its growth on differentiated slim designs and localized market strategies. The brand has recorded cumulative global sales of over 1 trillion cigarettes and currently accounts for “roughly one-third of the global super-slim segment, ranking as the leading brand in that category.”

  • Good Times Opens Premium Cigar Division

    Good Times Opens Premium Cigar Division

    Good Times Tobacco launched a new premium, handmade cigar division as it looks to expand beyond its core machine-made business, according to Halfwheel. The move includes plans for proprietary cigar brands, expanded distribution to existing retail partners, an e-commerce platform, and a walk-in humidor at its Tampa headquarters.

    The company has already introduced its first handmade products under the GT One and Done line, with additional offerings planned across multiple price points and formats. Company executives said the strategy will target different retail segments while leveraging Good Times’ existing scale, which, according to the company, sold roughly one billion machine-made cigars last year.