October 1, 2013
Acquisition is expected to significantly further SKYCIG e-cigarette innovation and availability on the UK market
SKYCIG, a leading premium electronic cigarette brand, today announces its acquisition by Lorillard, Inc., the third largest manufacturer of cigarettes in
the United States
and owner of the best- selling e-cigarette brand in the U.S. , blu eCigs. This venture is expected to support the growth of the SKYCIG brand and further improve its status as an innovation leader in the UK e-cigarette market.
SKYCIG, a brand which maintains a high level of control over its supply chain and product development, will become the second e-cigarette brand owned by Lorillard following its acquisition of the
-based blu eCigs last year. The acquisition of SKYCIG provides Lorillard with a significant European presence in the e-cigarette market, which, alongside its
presence, positions it as a leading worldwide e-cigarette company.
"We are very excited about this development and what it means for both the SKYCIG brand and for our loyal customers," says
, Co-Founder of SKYCIG. "We chose to move forward with Lorillard for the exceptional resources and expertise which the company can provide to enable SKYCIG to further both our product innovation and availability. This acquisition will allow us to continue to progress as both the best and the most widely available e-cigarette brand in the UK."
It has been agreed that SKYCIG will function independently as a separate brand under Lorillard's ownership, with current operations continuing as normal for staff, retailers and customers. SKYCIG's current premises in
will be retained, and further investment in the UK e-cigarette market is expected as the SKYCIG brand continues to grow.
FF&P Advisory advised SKYCIG on the transaction with
as Lead Adviser.