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Category: Business & Finance

  • BAT NZ Revenue Down 29% Amid Rising Illicit Trade

    BAT NZ Revenue Down 29% Amid Rising Illicit Trade

    British American Tobacco New Zealand reported a sharp decline in financial performance in 2025, with revenue falling nearly 29% year over year to NZ$180.7 million ($106.6 million), which the company attributed in part to the growth of the illicit tobacco market. According to The Post, industry estimates suggest illicit products accounted for 27.2% of consumption in 2024, equating to roughly NZ$600 million ($354 million) in lost excise revenue, as high cigarette taxes continue to push consumers toward the black market.

    The downturn was reflected across key business indicators, including a significant drop in inventory levels and reduced tax payments, while dividend payouts to the parent company remained stable. BAT has called for stronger enforcement measures, including tougher penalties and retailer licensing, as illicit trade expands alongside broader market shifts such as declining smoking rates and rising vape use.

  • Turning Point Schedules Q1 2026 Earnings Call

    Turning Point Schedules Q1 2026 Earnings Call

    Turning Point Brands, Inc. announced it will report its first quarter 2026 results on May 7, with a conference call scheduled for 8:30 a.m. ET. The company said analysts and investors can join via dial-in or listen through a live webcast on its investor relations website, with a replay available shortly after the call.

  • Fiber-Based Snus Packaging Moves Toward Commercial Production

    Fiber-Based Snus Packaging Moves Toward Commercial Production

    Future Materials Sweden ordered two Scala machines from PulPac to establish industrial-scale production of fiber-based snus cans at a new facility in Ljungby, marking a shift from product development to commercialization. The site will serve as the company’s first production hub, focusing initially on high-volume snus packaging—an area traditionally dominated by plastic—signaling growing momentum for alternative materials in nicotine product packaging.

    PulPac said the investment reflects broader industry interest in sustainable packaging solutions, with its Dry Molded Fiber technology positioned as a scalable alternative. Both companies said the move is aimed at building capacity for future expansion and partnering with additional brands, as demand grows for renewable, lower-impact packaging across the tobacco and nicotine category.

  • Cabbacis Releases 2025 Financials, Eyes 2027 PMTA Application

    Cabbacis Releases 2025 Financials, Eyes 2027 PMTA Application

    Cabbacis reported continued progress on its iBLEND cigarette platform as part of its 2025 annual filing, highlighting ongoing product development and regulatory preparation. The company, which generated no revenue in 2025 and reported a net loss of $1.58 million, is advancing clinical and consumer research to support a planned Premarket Tobacco Product Application (PMTA) submission to the FDA by January 2027.

    Recent studies cited by the company indicate that iBLEND cigarettes—made with very-low-nicotine tobacco and non-intoxicating hemp—reduced cravings and were rated favorably by adult smokers in sensory testing compared to both traditional and other reduced-nicotine products. Cabbacis plans to launch additional real-world usage studies in 2026, while also strengthening its intellectual property portfolio and pursuing a Regulation A capital raise of up to $7.5 million to fund commercialization and regulatory efforts.

  • Altria Expands Investment in U.S. Tobacco Communities

    Altria Expands Investment in U.S. Tobacco Communities

    Altria Group announced that it is launching a series of new investments aimed at supporting U.S. tobacco growers, agricultural research, and rural communities, as part of a broader initiative tied to America’s 250th anniversary. The company, with funding support from Philip Morris USA, said it plans to commit more than $8 million over the next three years toward agricultural education, community development, and industry sustainability efforts.

    A significant portion of the funding will establish endowments at the University of Kentucky and Virginia Tech, each receiving $2 million to support faculty positions and research focused on tobacco agronomy and innovation. The initiative is designed to strengthen long-term agricultural capacity, support growers facing evolving market conditions, and advance research into tobacco production and alternative uses. Additional funding will be directed toward donor-advised community funds in key tobacco-growing regions, aimed at addressing local needs and providing disaster relief support.

    The program also includes expanded employee engagement efforts, with nearly 6,000 employees expected to participate in volunteerism, charitable giving, and civic initiatives. Altria said the broader goal is to reinforce its longstanding relationships with U.S. tobacco farmers while supporting the sustainability and resilience of tobacco-growing communities as the industry continues to evolve.

  • PM Plans Zyn Expansion in Tokyo

    PM Plans Zyn Expansion in Tokyo

    Philip Morris Japan announced it plans to expand sales of its oral nicotine pouch product “Zyn by IQOS” in Tokyo, with a broader rollout beginning May 11 across IQOS stores and convenience retailers. The product will be offered in Cool Mint, Spear Mint, Apple Mint, and Peach flavors, each with “low” and “medium” strength options. The company said the expansion reflects growing demand for discreet, smoke-free alternatives that can be used in a wider range of settings.

  • PMI Reduces Zyn Production in Owensboro

    PMI Reduces Zyn Production in Owensboro

    Philip Morris International announced it will scale back production at its Swedish Match facility in Owensboro, Kentucky, shifting part of its Zyn nicotine pouch operations from a 24/7 schedule to a 24/5 schedule beginning in early July, according to The Owensboro Times. The adjustment primarily affects the Zyn Flagship department, which will return to a five-day, three-shift model under the terms of the existing collective bargaining agreement.

    The company said the move reflects changing market conditions, with production currently exceeding demand following a period of rapid growth and capacity expansion. PMI invested more than $230 million into the Owensboro site in 2024, increasing output and adding approximately 450 jobs to support strong demand for Zyn products.

    PMI emphasized that the change is a production realignment rather than a reduction in long-term commitment to the facility, noting that other operations, including Zyn Ultra production and maintenance, will remain on a 24/7 schedule. The company said it will work with union leadership on staffing adjustments and indicated the schedule could return to continuous operations if demand increases.

  • PMI Expands Ducati Partnership to Promote Zyn

    PMI Expands Ducati Partnership to Promote Zyn

    Philip Morris International expanded its long-standing partnership with Ducati Corse, announcing that its Zyn nicotine pouch brand will be featured on MotoGP race liveries at select events starting in the 2026 season. The move marks a new phase in the collaboration, which dates back to 2003, and reflects PMI’s continued focus on promoting smoke-free products through high-profile global platforms.

    PMI said the partnership aligns with its broader strategy to grow its oral nicotine portfolio, with ZYN positioned as a key driver in the company’s transition away from cigarettes. Ducati said the renewed agreement builds on a shared emphasis on innovation and performance, as both organizations look to extend their presence and engagement with adult consumers in international markets.

  • FDA Issues NSE Orders for Seneca’s 28 Cigarette Products

    FDA Issues NSE Orders for Seneca’s 28 Cigarette Products

    Today (March 23), the U.S. Food and Drug Administration issued Not Substantially Equivalent (NSE) orders for 28 cigarette products manufactured by Seneca Manufacturing Company, determining they do not meet the legal standard to remain on the market. As a result, these products, sold under the Heron and Sands brands, can no longer be distributed, imported, marketed, or sold in the United States.

    The affected products were previously allowed to remain on the market under provisional substantial equivalence status while under FDA review. With the final NSE determinations now posted, retailers have been instructed to coordinate with manufacturers or suppliers to remove remaining inventory.

    The agency said it will exercise enforcement discretion until May 23, after which non-compliant sales could face penalties. FDA noted that enforcement actions may include warning letters, fines, product seizures, or injunctions. The agency also pointed retailers to its searchable tobacco products database, which lists authorized products eligible for legal sale, as part of ongoing efforts to support compliance with federal tobacco regulations.

    Seneca Manufacturing Company is a tobacco manufacturer founded in 2006 after obtaining its federal TTB license, initially operating with a small team and focusing distribution within Seneca Nation territory in the New York area before expanding to multiple U.S. states and other Indigenous markets.

  • Al Fakher Owner Moves Ahead with Nasdaq Listing

    Al Fakher Owner Moves Ahead with Nasdaq Listing

    Advanced Inhalation Rituals (AIR), the Dubai-based owner of hookah tobacco brand Al Fakher, is proceeding with plans to go public on Nasdaq through a merger with Cantor Equity Partners III, with the deal potentially closing in early May. The company recently submitted its second filing to the U.S. Securities and Exchange Commission, and if approved, the transaction—valuing the combined entity at approximately $1.75 billion—will move to a shareholder vote.

    “The SEC’s declaration of effectiveness of our registration statement is an important regulatory milestone in our journey to become a public company,” said AIR CEO Stuart Brazier, “and we look forward to our planned debut on the Nasdaq as a pure-play social inhalation leader in the coming months.”

    AIR reported 2025 net revenue of $400 million, up 6% year over year, with profits rising to $47 million. The company serves around 14 million consumers globally and operates across 90 markets, with manufacturing facilities spanning the Middle East and Europe. Growth remains driven by expansion in markets such as the U.S., Europe, and Saudi Arabia.

    While operations have not been directly impacted by the ongoing Middle East conflict, supply chains have faced disruption due to the closure of the Strait of Hormuz, increasing logistics costs. The company said it has rerouted shipments and is working to offset higher expenses through cost controls and selective price adjustments, while maintaining its outlook for continued growth in 2026.