RICHMOND, Va. -- Altria Group Inc.'s Nu Mark LLC subsidiary completed the acquisition of the electronic vapor business of Green Smoke Inc. and its affiliates. Under terms of the transaction, Altria paid approximately $110 million in cash and will remit up to $20 million in incentive payments.
Richmond, Va.-based Green Smoke offers electronic cigarettes designed to provide a rich, thick flavor. Its e-cigarettes consist of two pieces: a long-lasting rechargeable battery and a FlavorMax cartomizer.
Altria Group Inc., also based in Richmond, directly or indirectly owns 100 percent of Philip Morris USA Inc., U.S. Smokeless Tobacco Co. LLC, John Middleton Co., Nu Mark, Ste. Michelle Wine Estate Ltd. and Philip Morris Capital Corp. The company also holds a continuing economic and voting interest in SABMiller plc.