This disposal simplifies our portfolio in the USA, enabling us to further sharpen our focus on driving revenue growth in the USA from our core US tobacco brands and next generation products.
Chief Executive, Alison Cooper, commented:
“We are clear on our strategic priorities and focus for growth and are proactively actioning capital reallocation opportunities to generate additional shareholder value. The disposal of our US OTP business is an example arising from the ongoing review of our assets.
“In next generation products, 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.”