Logic Part of JT''s Emerging-products Ambitions

Source from:  Tobacco Reporter 07/29/2015

Japan Tobacco Inc. said today that the JT Group had completed the acquisition of Logic Technology Development, one of the leading US e-cigarette brands.

The acquisition was first announced at the end of April 30.

Founded in 2010, Logic is said to sell a range of high quality rechargeable, ready-to-use and disposable products, including the Logic Pro tank system.

'The investment in Logic provides JT Group with a sizeable participation in the largest and fast-growing US e-cigarette market,' JT said in a note posted on its website.

'Logic's well established presence in the US, in addition to the acquisition of E-Lites in the UK, further underpins the group's global ambitions to become the leader in emerging products.'

JT said the acquisition was expected to have a minor effect on the group's consolidated financial performance for fiscal year 2015. Enditem