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British American Tobacco Plc acquires the modern oral business of Dryft

1 min read | November 03, 2020 11:29 AM GMT | By Team Kalkine Media
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British American Tobacco Plc (LON:BATS) has strengthened its US new category portfolio with the acquisition of Dryft Modern Oral business.

  • The US business of the group has acquired Dryft Sciences, LLC’s nicotine pouch product assets.
  • Dryft is a US-based Modern Oral nicotine product company, and its acquired portfolio will be rebranded by the company under its global Modern Oral brand, VELO.
  • The acquisition is expected to fast-track the company’s growth through superior distribution, marketing and channel capabilities and will considerably strengthen its portfolio in a fast-growing nicotine category in the US.
  • On 3 November 2020, the stocks of the company improved by 0.85% from its previous closing, hovering at around GBX 2,484.00 at 08:47 AM GMT+1.

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