Beverly Hills 12/3/2009 3:21:17 AM
News / Business

Reynolds American, Maker of Camels Cigarettes, Acquiring Swedish Cigarette Replacement Company

Finance World News Update by EQUITIES Magazine

Reynolds America announced its purchase of a Swedish company whose nicotine gum, pouches and spray help smokers quit. The deal would be worth about $44 million.

The cigarette maker, who produces Camel cigarettes and Grizzly smokeless tobacco, says Niconovum AB’s products can help meet consumer demand and public health objectives for reducing the damage caused by tobacco use.

Niconovum products are sold outside the U.S.

The second-largest tobacco company and its competitors are turning to cigarette alternatives for growth as tax increases, health concerns, smoking bans and social stigma cut into cigarette demand.

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