Philip Morris International bought Nicocigs, an acquisition that brings the tobacco company its first e-cigarette product and about one quarter of the UK market, The Independent said.

A purchase price for Birmingham-based Nicocigs was not disclosed, the newspaper said on its website. Philip Morris said the acquisition will give it “immediate access to, and a significant presence in, the growing e-vapour category in the UK”, according to The Independent.
Nicocigs, maker of Nicolites, has about a 27 per cent share of the UK e-cigarette market, which has an estimated retail value of USD 350 million (EUR 257 million), the newspaper reported.