Imperial Brands Sells US Non-Core Products To Focus On Next Generation

20th Mar 2018 07:56

LONDON (Alliance News) - Imperial Brands PLC said Tuesday it has disposed of its non-core other tobacco products in the US in order to simplify its operations in the country and focus on core brands and next generation products.

The FTSE 100-listed cigarette giant sold a range of "other tobacco" products which includes roll your own brands, tubes, tips, cigarette papers, and other smoking accessories in the US.

No financial details were disclosed.

"We are clear on our strategic priorities and focus for growth and are proactively actioning capital reallocation opportunities to generate additional shareholder value," Imperial's Chief Executive Officer Alison Cooper said. "The disposal of our US OTP business is an example arising from the ongoing review of our assets."

Imperial said the disposal will allow it to focus on driving revenue growth in the US, which they will achieve through a focus on its core tobacco brands and next generation products.

"In next generation products," Cooper added, "we are focused on delivering an exceptional consumer experience and we are investing behind an exciting innovation pipeline. Our product and market launch programmes are on track with the recent launches of myblu in the USA and the UK, with additional markets coming on stream in the next few months. In tobacco, our investment focus continues to deliver share gains in our Growth Brands and priority markets."

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