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Shanghai Daily,上海日报
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Firms eye M&As via tobacco JV

BRITAIN’S Imperial Brands, the world’s fourth-biggest tobacco company, has moved to gain a foothold in the largest cigarette market through a joint venture with state-owned China National Tobacco (CNTC).

The Hong Kong-based Global Horizon Ventures Ltd venture will link Imperial with CNTC subsidiary Yunnan Tobacco, which controls over one fifth of the Chinese market.

“Further tobacco and next-generation product launches, as well as potential M&A opportunities, will also be evaluated by GHVL in due course,” Imperial Brands said. The two firms said the venture will grow Imperial’s West and Davidoff brands in China, and Yunnan’s Jade and Horizon brands globally.


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