Lorillard acquired Skycig, a UK-based e-cigarette company, in a deal that could amount to GBP 60 million (EUR 71 million) if performance benchmarks are met, the US cigarette company announced.

Skycig adds a major UK brand to Lorillard’s blu eCigs unit in the US. Lorillard said the new British subsidiary will benefit from the parent company’s expertise in marketing, sales, research and regulatory matters. GBP 30 million was paid in cash and another GBP 30 million will be paid in 2016 based on achievement of predetermined financial benchmarks, according to a 1 Oct company statement.