M&A Deal Summary

Altria Acquires NJOY

On March 6, 2023, Altria acquired consumer products company NJOY for 2.8B USD

Acquisition Highlights
  • This is Altria’s 5th transaction in the Consumer Products sector.
  • This is Altria’s 4th largest (disclosed) transaction.
  • This is Altria’s 6th transaction in the United States.
  • This is Altria’s 1st transaction in Arizona.

M&A Deal Summary

Date 2023-03-06
Target NJOY
Sector Consumer Products
Buyer(s) Altria
Deal Type Add-on Acquisition
Deal Value 2.8B USD
Advisor(s) Moelis & Co. (Financial)
Weil Gotshal & Manges (Legal)

Target

NJOY

Scottsdale, Arizona, United States
NJOY is an electronic cigarette brand in America and is known as the industry's "Gold Standard" due to its products, patent-pending technology, superior branding, and experienced management team. NJOY was formed in 2006 and is based in Scottsdale, Arizona.

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Buyer(S) 1

Buyer

Altria

Richmond, Virginia, United States

Category Company
Founded 1822
Sector Consumer Products
Employees6,400
Revenue 20.5B USD (2023)
DESCRIPTION
Entrance to Altria's corporate headquarters in Richmond, Virginia.
Entrance to Altria's corporate headquarters in Richmond, Virginia.

Altria is a global holding company focused on tobacco products. Altria Group, Inc.'s direct and indirect wholly-owned subsidiaries include Philip Morris USA Inc., which is engaged in the manufacture and sale of cigarettes and certain smokeless products in the United States; John Middleton Co., which is engaged in the manufacture and sale of machine-made large cigars and pipe tobacco, and is a wholly-owned subsidiary of PM USA; and UST LLC, which through its direct and indirect wholly-owned subsidiaries, including U.S. Smokeless Tobacco Company LLC and Ste. Michelle Wine Estates Ltd., is engaged in the manufacture and sale of smokeless products and wine. Philip Morris Capital Corporation, another wholly-owned subsidiary of Altria Group, Inc., maintains a portfolio of leveraged and direct finance leases. In addition, Altria Group, Inc. holds approximately 26.9% of the economic and voting interest of SABMiller plc. Altria was founded in 1822 and is based in Richmond, Virginia.


DEAL STATS #
Overall 7 of 7
Sector (Consumer Products) 5 of 5
Type (Add-on Acquisition) 5 of 5
State (Arizona) 1 of 1
Country (United States) 6 of 6
Year (2023) 1 of 1
Size (of disclosed) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-20 JUUL

San Francisco, California, United States

JUUL Labs, Inc. is a technology company dedicated to eliminating cigarettes by offering existing adult smokers a true alternative to combustible cigarettes. The company's research shows that more than one million smokers have already switched to the JUUL system, and it is working to enable millions more to switch in the coming years through technological innovations.

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