Lorillard Buys Out Blu Cigs

Lorillard, Inc., through its Lorillard Tobacco Company subsidiary, is the third largest manufacturer of cigarettes in the United States, released it’s quarterly earnings recently, showing it’s progress for the stock holders, and then drops a little nugget, Um, btw, we just bought Blu Cigs with the tune of $135 million dollars.

Ok, they didn’t use those words, but the news was stunning to me.  So stunning, I researched it a few times to be sure.  Lorillard Inc.  makes Old Gold, Kent (a blast from my youth), True, Maverick (remembering days of savaging for change to buy a pack, which are the cheapest?  Mavericks?  I’ll take a pack.  Ah the days of youth) and Newport.  Newport is a staple in Miami, and to learn that a major tobacco company sees the future of e-cigs is huge, at least I believe.  Maybe we can get those regulations we e-cig smokers have wanted.

The tobacco company on Wednesday also unveiled a $135 million cash acquisition of blu ecigs, a U.S. maker of electronic cigarettes. The deal gives Lorillard exposure to the fast-growing market for the devices, which use small batteries rather than an open flame.

We’ll have to keep our eyes open to see how the other big Cigarette Manufactures respond to this.

*Reference: http://www.4-traders.com/LORILLARD-INC-3508254/news/Lorillard-1Q-Net-Off-10-Buying-Ecig-Maker-For-$135-Million-14294710/