ITG Brands

ITG Brands, LLC is the third-largest tobacco manufacturing company in the United States. It is a subsidiary of British multinational Imperial Brands. ITG Brands markets and sells multiple cigarette and cigar brands and sells blu eCigs.[1] The company was created in 2015 and has its production, headquarters, and regulatory compliance facilities located in Greensboro, North Carolina.[2]

ITG Brands, LLC
TypeLimited liability company
IndustryTobacco
Founded2015 (2015)
Headquarters
Greensboro, NC
,
U.S.
Area served
United States
Key people
Oliver Kutz (CEO)
ParentImperial Brands
Websiteitgbrands.com

History

ITG Brands was formed in June 2015 as an American subsidiary of British conglomerate Imperial Brands. After competing tobacco companies Reynolds American Inc. and Lorillard Inc. merged in 2015, they were required by the FTC to divest four cigarette brands. Imperial then acquired cigarette brands Winston, Salem, Kool, and Maverick along with blu eCigs from the Reynolds American-Lorillard merger for $7.1 billion.[3][4] Cigar brands already owned by Imperial included Backwoods, Dutch Masters, and Phillies. David Taylor, the CFO of Lorillard Inc. pre-merger, became ITG Brands’ first CEO in 2015.[5]

ITG Brands announced it would be closing the Reidsville manufacturing plant by April 2020, "affecting 117 manufacturing jobs."[6] It will move manufacturing to Greensboro, North Carolina.[7]

ITG Brands was one of three tobacco companies warned by the Food and Drug Administration that "they did not have the agency’s approval to claim that their products were free of certain harmful substances, or that they posed less risk to consumers than other tobacco products." [8]

ITG Brands donated $25,000 to the North Carolina Disaster Relief Fund to provide relief for Hurricane Florence.[9]

In 2019, Oliver Kutz was named as ITG Brands’ new CEO and president. He replaced Dan Carr, who had served as the second CEO and president for 16 months.[10] Kutz previously served as Imperial Brand’s general manager of the Russia-AAAA (Americas, Africa, Asia, and Australia) Division.[11]

Brands

References
  1. Herzog, Bonnie (18 June 2015). "Reynolds (NYSE: RAI) and ITG Brands in $1.5B e-cig market". Triad Business Journal. Retrieved 1 December 2018.
  2. "ITG Brands moving tobacco production from Reidsville to Greensboro". Greensboro News & Record. November 1, 2018. Retrieved October 11, 2019.
  3. Arcieri, Katie (May 28, 2015). "The $27B Reynolds-Lorillard deal: Which brands go where?". Charlotte Business Journal. Retrieved October 11, 2019.
  4. Mangan, Dan (July 15, 2014). "Feeling blu? E-cig company spun off in major tobacco deal". CNBC. Retrieved October 11, 2019.
  5. Arcieri, Katie (June 15, 2015). "ITG Brands CEO: Focus will be to "restore" the value of Winston, Kool brands". Triad Business Journal. Retrieved October 16, 2019.
  6. Craver, Richard (9 November 2018). "Imperial Brands projects slight revenue growth for fiscal 2018". Winston-Salem Journal. Retrieved 1 December 2018.
  7. Bollinger, Luke (2 November 2018). "ITG Brands moving its Reidsville facilities in 2020". Triad Business Journal. Retrieved 1 December 2018.
  8. Abrams, Rachel (27 August 2015). "F.D.A. Warns 3 Tobacco Makers About Language Used on Labels". nytimes.com. Retrieved 1 December 2018.
  9. CSD Staff (27 September 2018). "ITG Brands Donates $25,000 to Aid Hurricane Relief". Convenience Store Decisions. Retrieved 1 December 2018.
  10. Craver, Richard (June 10, 2019). "ITG Brands names Oliver Kutz as CEO and president of the Greensboro tobacco manufacturer". Winston-Salem Journal. Retrieved October 16, 2019.
  11. Abcede, Angel (June 11, 2019). "ITG Brands Names New President". CSP Daily News. Retrieved October 16, 2019.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.