Alison Cooper, CEO of Imperial Brands, commented:
“We are clear on our strategic priorities and focus for growth and are proactively actioning capital reallocation opportunities to generate additional shareholder value. The disposal of our U.S. OTP business is an example arising from the ongoing review of our assets.
“In next generation products, we are focused on delivering an exceptional consumer experience and we are investing behind an exciting innovation pipeline. Our product and market launch programmes [sic] are on track with the recent launches of myblu in the USA and the UK, with additional markets coming on stream in the next few months. In tobacco, our investment focus continues to deliver share gains in our Growth Brands and priority markets.”
This recently development is part of Imperial Brands’ attempt to streamline its business. In 2016 the company announced plans to spend approximately $930 million over the next three years to make its business more efficient. To do this, the company has set out to reduce the number of brands its offered. At one point, Imperial Brands’ portfolio consisted of 184 different brands. Its goal is to cut at a minimum of 59 brands from its product offerings.
For all the latest news from Imperial Brands, visit imperialbrandsplc.com.
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