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Friday, 01 September 2017 05:18

Swedish Match acquires snus maker V2 Tobacco

Swedish Match acquires Danish snus manufacturer V2 Tobacco!

In a surprise announcement this morning, V2 Tobacco announced they had been aquired by Swedish Match AB.  V2 Tobacco is a privately held smokeless tobacco company, primarily active in Europe. V2 Tobacco is headquartered in Silkeborg, Denmark.

To snus users around the world, V2 is most famous for their Thunder Snus line of high nicotine snuses.

Published in Larry Waters Reports!

Swedish Match Logo

WHY the Swedish Match South Africa sale to Philip Morris International is a win for SMAB, PMI, and their Joint Venture Partnership on Swedish Snus.

On the morning of July 2nd 2009 (GMT 1), both Swedish Match AB (SMAB) and Philip Morris Swedish Snus Ambassador Larry WatersInternational (PMI) had issued press releases confirming that SMAB had agreed to sell their South African operations in the form of  Swedish Match South Africa (Proprietary) Limited (SMSA) to Philip Morris International [NYSE/Euronext Paris: PMI] for a purchase price amounting to 1.75 billion ZAR (the South African Rand.)

According to Forex Rates on July 3, 2009 11pm GMT, this would translate into $226,390,500 USD, slightly more than "roughly $222MM most often quoted in the press.  Regardless; in either Rand, Dollar, or Krona, not a small chunk of change.

In browsing follow up articles to the Press Release on both the wire services and in other media, I was disappointed to find they provided little more than rehashes of the SMAB and PMI press releases.

The all-important WHY would SMAB sell SMSA, WHY would PMI be interested in buying SMSA, and most importantly to me, HOW does this affect Swedish Snus.....they were never addressed or even speculated on in the canned wire reports.  More lazy journalism.

 

Published in Larry Waters Reports!

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