Japan Tobacco Inc. (JT) (TSE: 2914) announced today that it entered into an agreement to acquire Logic Technology Development LLC (“Logic”), one of the leading US e-cigarette brands. Founded in 2010, Logic sells a full range of high quality rechargeable, ready-to-use and disposable e-cigarettes, including the Logic Pro tank system1, newly launched in April 2015.
“With the Logic brand and its strong portfolio of products, the JT Group has a sizeable participation in the largest and fast-growing US e-cigarette market,” commented Masamichi Terabatake, JTI’s (Japan Tobacco International) Executive Vice President and Deputy CEO. “Logic’s well established presence in the US, in addition to our acquisition of E-Lites in the UK, further underpins our global ambitions to become the leader in emerging products.”
The executive management team of Logic will remain with the JT Group post-acquisition in order to benefit from their extensive knowledge and experience of the US e-cigarette market. [...]