Austin, TX -- (SBWIRE) -- 02/12/2014 -- Green Smoke electric Cigarette is one of the leading electric cigarette brands that have been on the top from several years. In the last couple of year many tobacco giants have entered the electric cigarette niche, the last successful acquisition was that of Lorillard when it acquired Blu cig and the latest brand to be acquired by a tobacco giant if green smoke electronic cigarette. Altria group has announced that its Nu Mark LLC subsidiary will acquire green smoke Inc’s e cigarette business.
Altria is apparently paying a hefty $110 million in transaction for Green Smoke Electronic Cigarette which will most probably occur during the second quarter of 2014. The revelation has once again proved that electric cigarette industry is indeed flourishing and the market analyst’s prediction that the vapor cigarette will surpass the tobacco cigarette by 2047 which is why big players of the tobacco world are investing in the e cig niche.
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Lorillard after the acquisition of Blu cigs expanded the horizons of the e cigarette brand and made it the major player in 2013 in the domestic market. The growth prospects of the smokeless cigarette is very bright and today the e cigarette industry may not generate revenue even close to what tobacco industry does but in ties to come, the industry is to register exponential growth since the demand has almost doubled every since the time of its introduction.
Expert from the industry say,” The brisk growth is visible from the fact that the sales which were in million at the time of introduction reached the $1.5 billion mark in 2013. The customer of e cigarette users are indeed tobacco users/ex smokers which is why giants of tobacco industry are venturing into the electric cigarette market for the rapid growth is sure to continue and give a tough competition to tobacco in the next decade or so.”
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