CN Creative sells for £40m
The Lancashire business behind electronic cigarette firm Intellicig has been sold to Britain’s biggest tobacco company in a deal believed to be worth around £40m.
Accrington-based CN Creative, which also has research facilities in Manchester, has been sold to British American Tobacco in a multi-million pound deal thought to be around £40m.The company was founded by David Newns and Chris Lord in 2008 and is behind the Intellicig electronic cigarette, ECOpure nicotine and the QuitDirect portfolio of cessation services.
David Newns said: “The last few years have been a great ride but there’s a lot more to do – we have huge expansion plans.”Kingsley Wheaton, director at British American Tobacco, which makes the Pall Mall and Lucky Strike brands, said: "Our core business is, and will remain in, tobacco but we've always made it clear that our goal is to provide those adult smokers who are seeking safer alternatives to cigarettes with a range of reduced-risk products that will meet their varying needs. "We believe the innovative e-cigarette technologies that CN Creative has been developing over the past few years will help us move closer to achieving this goal."
