Lorillard Purchases Blu Cigs

Blu Cigs Bought by Lorillard

The U.S. tobacco giant Lorillard has recently purchased the electronic cigarette company Blu Cigs. This makes Lorillard the first major tobacco firm to buy or invest in electronic cigarettes. Needless to say, this is a huge step for the electronic cigarette industry as it shows that traditional cigarette companies are beginning to take notice.

Lorillard, famous for their Kent and Newport-brand cigarettes, have seen their profits experience a steady decline since the advent of the electronic cigarette. Not terribly surprising, considering how much healthier and more cost-effective e-cigarettes are. These decreased profits are what lead to the acquisition, which was worth an estimated $135million.

The electronic cigarette industry has grown to over half a billion dollars in the U.S. alone over this past year. This is still dwarfed by traditional tobacco cigarette revenues, which are estimated to be around $100billion per year, but it shows that a new trend has emerged. Blu Cigs is one of the premier electronic cigarette companies, and stated in their statement that the recent acquisition by Lorillard will “allow us to move to the next level of our expansion.”

For more information on Blu Cigs, please read our full Blu Cigs review.

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