The story
JTI is the youngest of the big tobacco manufacturers and was formed in 1999 when Japan Tobacco Inc. purchased the international tobacco operations of the U.S. multinational R.J. Reynolds for $7.8 billion. Popular brands included Camel, Winston, Natural American Spirit (2015), Ploom and Evo.
In 2007, Gallaher Group, a FTSE 100 business, was acquired by Japan Tobacco Inc. for GBP 9.4 billion. At the time, this was the largest foreign acquisition by a Japanese company.
In 2009, the JT Group acquired part of the worldwide business of Tribac Leaf Limited (a company that trades tobacco in Africa), as well as two Brazilian companies active in the tobacco business, Kannenberg and KBH&C. In the same year, the JT Group also set up JTI Leaf Services, a joint venture with two leaf suppliers in the US – Hail & Cotton Inc. and JEB International.
In 2011, JTI invested $10 million into a startup called Ploom. Ploom used this money to create the Pax, a vaporizer for loose leaf tobacco. While the product was invented to support smokers, cannabis users discovered that the Pax streamlined the cannabis experience. As Pax became associated with cannabis, JTI asked to part ways with Ploom. JTI retained their rights to the Pax product (later known as the Ploom heated tobacco device), while Ploom changed their name to Pax Labs and bought JTI out of their share. Pax Labs would go on to develop the Juul vape device.
In 2018, JTI acquired Akij Group's Tobacco business for $1.47 billion. In 2022, the company's revenue in Russia amounted to 431 billion rubles. In 2022, JTI and Altria announced a strategic partnership to sell JTI's successful Ploom product in the U.S. market and potentially other ventures.
In 2024, Japan Tobacco International was named by Top Employers Institute as a top employer for the third year in a row. In that same year, JTI purchased Vector Group for 2.4 billion U.S. Dollars. Previously, JTI operated outside of the U.S., but this purchase gave JTI roughly 10% market share and two of the top ten cigarette brands in the U.S.
From Wikipedia’s article on Japan Tobacco International, shared under CC BY-SA 4.0.4
