Lorillard's $135M Buy Marks Entry Into E-Cigarette Market

Law360, New York (April 25, 2012, 3:26 PM EDT) -- Cigarette maker Lorillard Inc. has paid $135 million in cash for Blu Ecigs, a Charlotte, N.C.-based maker of electronic cigarettes, Lorillard revealed Wednesday.

The acquisition gives Lorillard, whose top brand is Newport, a presence in the fast-growing market for the smokeless products, which use small batteries rather than a flame to deliver vaporized nicotine and tobacco flavor.

Blue Ecigs are nation's best-selling brand of electronic cigarettes, according to Greensboro, N.C.-based Lorillard. The company plans to keep Blue Ecigs as a separate operating unit and retain its...
To view the full article, register now.