Japan Tobacco Inc. (JT) recently announced that the JT Group had completed the acquisition of Logic Technology Development LLC (“Logic”), one of the leading US e-cigarette brands. The acquisition was announced in the company’s April 30, 2015 statement, “JT acquires Logic, the leading independent US e-cigarette company.” The acquisition is expected to have a minor effect on the group’s consolidated financial performance for the fiscal year 2015.
Founded in 2010, Logic sells a full range of high quality rechargeable, ready-to-use and disposal e-cigarettes, including the Logic Pro tank system. The investment in Logic provides JT Group with a sizeable participation in the largest and fast-growing US e-cigarette market. Logic’s well established presence in the US, in addition to the acquisition of E-Lites in the UK, further underpins the group’s global ambitions to become the leader in emerging products.