Philip Morris International Considers Sale of US Cigar Business
Philip Morris International is exploring the sale of its US cigar business as part of its strategy to focus on smoke-free products and reduce reliance on traditional tobacco-based products.
The company is working with advisors to determine buyer interest and is seeking a price of over $1 billion. This move is seen as a step towards the company’s shift towards smoke-free products, which is expected to drive growth and profitability.
The sale of the cigar business is part of a broader effort by Philip Morris to adapt to changing consumer preferences and regulatory requirements. The company is taking steps to transition its business model to focus on smoke-free products, which are expected to play a significant role in its future growth and profitability.
Key Facts:
- Philip Morris International is exploring the sale of its US cigar business
- The company is seeking a price of over $1 billion
- The sale is part of a broader effort to adapt to changing consumer preferences and regulatory requirements
- The company is shifting its focus towards smoke-free products to drive growth and profitability