Investors Drop $20 mil into NJoy

Investment group Catterton Partners, a consumer-focused private equity firm, has invested the hefty sum of $20 million dollars into NJoy, a popular E-Cig manufacturer.

Here is the press release:

PRESS RELEASE

NJOY, America’s most popular electronic cigarette brand, announced today that it has received a $20 million investment from Catterton Partners, the leading consumer-focused private equity firm.  The investment, which is being made by Catterton Growth Partners, L.P., will be used to accelerate NJOY’s brand awareness, growth and other business development opportunities.*

Americas financial community seems to have taken a long, hard look at the electronic cigarette industry and has finally made a decision.  I’m sure the analytics involved has taken every thing that has occurred in the past 8 years of e-cigs growth and found a chance at profit.

On a personal note, this has gotten my attention.  Nothing gets the ball rolling as far as innovation, growth and regulations as profit in America.  This can lead to good things or bad ones, but it will speed things up regardless and increase awareness to boot.

“NJOY and Catterton are a terrific fit, as both companies are the ‘Gold Standard’ in their respective businesses,” said Craig Weiss, President and CEO of NJOY.  “We welcome Catterton not just as an investor, but as a strategic partner that can help take NJOY to the next level.”*

* Reference: pehub.com

Link to Catterton Partners