Green Smoke becomes Altria's property

Green Smoke becomes Altria's property after a deal for $110 million

The Big Tobacco giant Altria has set its mind on the Florida-based e-cig company Green Smoke. The purchase will mark another milestone for the expansion of the Big Tobacco companies into the e-cig industry.

Altria decided to enter the market after Lorillard successfully purchased blu eCigs in 2012 and SkyCig in 2013. Green Smoke is currently the leading cig-a-like cigarette, and the purchase was estimated at around $110 million.

Even though the US's most dominant tobacco company, Altria, has demonstrated slow progress in the e-cig market. They were more focused on creating their own e-cigarette, MarkTen, launched in August last year.

MarkTen proved to be more of a "disposable brand" and hasn't made a significant impact on the e-cig industry.

The deal is a sensible investment for Altria, which made more than $24.5 billion in revenues last year, a pretty sweet deal for the Green Smoke company.

A short overview of the leading Big Tobacco giants entering the e-cig business: RJ Reynolds decided to manufacture their own e-cigarette, and Vuse entered the market as a technologically advanced product featuring a microprocessor that ensures consistent vapor production and nicotine delivery. However, the device is available only in the Denver area, and currently, RJ is selling only two starter kits.

Lorillard was the first to enter the e-cig market in 2012 by purchasing the blu eCig. They seemed eager to get involved and preferred to build on already established and successful business products, such as Skyrim.

British American Tobacco launched Vype, its own e-cig, in September 2013. Vype is equipped with UK-made liquid, which guarantees top quality, and its cigarette-like appearance targets mainly smokers who are just making the switch.

Finally, Imperial Tobacco, which has yet to enter the market, plans to do it in the following year. They have already purchased intellectual property from Chinese disposable vapes and are working on their product.