The company said that its decision to dispose of its other tobacco products (OTP) business, which includes roll-your-own brands, tubes, tips, cigarette papers and other accessories, is to simplify the company portfolio in the US and further focus on driving revenue growth from core tobacco brands and next-generation products in the US. The decision was the result of an ongoing review of its assets.
Alison Cooper, chief executive, said, “We are clear on our strategic priorities and focus for growth and are proactively actioning capital reallocation opportunities to generate additional shareholder value.”
Imperial Brands said that it would continue to focus on investing in its next-generation products.
“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,” said Cooper.