Altria to acquire Green Smoke

2/3/2014

RICHMOND, Va. — Altria Group on Monday announced that its subsidiary, Nu Mark, agreed to acquire e-vapor business Green Smoke and its affiliates for approximately $110 million in cash and up to $20 million in incentive payments.



“Nu Mark’s entry into the e-vapor category with its MarkTen product was an important development in Altria’s innovation strategy. Adding Green Smoke’s significant e-vapor expertise and experience, along with its supply chain, product lines and customer service, will complement Nu Mark’s capabilities and enhance its competitive position,” Marty Barrington, Altria’s Chairman and CEO, said. “Further, Green Smoke’s culture of innovation and history of producing high-quality products is consistent with Altria’s culture.”



Green Smoke was founded in 2008 and has operations in the United States and Israel. The company has sold e-vapor products since 2009. Its product lines, sold under the Green Smoke e-vapor brand, include both rechargeable and disposable versions.  



“We are very pleased to be joining the Altria family of companies,” said Robert Levitz, Green Smoke’s CEO. “We are dedicated to innovation and believe joining Nu Mark will help us deepen that expertise and create new opportunities for our customers, our employees and our products.”


 

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