Japan Tobacco acquires Logic Technology DevelopmentStaff writer ▼ | May 1, 2015
Japan Tobacco entered into an agreement to acquire Logic Technology Development, one of the leading US e-cigarette brands.
Acquisition US e-cigarette company to be sold
The executive management team of Logic will remain with the JT Group post-acquisition in order to benefit from their extensive knowledge and experience of the US e-cigarette market.
The transaction will be funded by the group's existing cash and loan facilities, with an expected minor effect on the Group's consolidated performance for the fiscal year 2015.
JT expects to complete the acquisition in the third quarter of the fiscal year 2015 following regulatory clearance. ■