British American Tobacco and Philip Morris International today signed a trademark transfer agreement which will allow the companies to consolidate their ownership of certain international brands.
Under the agreement, Philip Morris International will acquire ownership of the MURATTI AMBASSADOR brand in certain markets and will also acquire the L&M and CHESTERFIELD trademarks in Hong Kong and Macau. British American Tobacco will acquire the BENSON & HEDGES trademark in certain African countries.
The transactions are subject to regulatory approval and will result in a net payment to British American Tobacco of US$115 million.
Philip Morris International
Philip Morris International, based in Lausanne, Switzerland, held a 15.5% share of the international cigarette market in 2005. Its brands, led by Marlboro and L&M, are sold in over 160 countries around the world. Philip Morris International is an operating company of Altria Group, Inc.
PMI is the world’s leading international tobacco company, with six ot the world’s top 15 international brands and products sold in more than 180 markets. In addition to the manufacture and sale of cigarettes, including Marlboro, the number one global cigarette brand, and other tobacco products, PMI is engaged in the developement and commercialization of Reduced-Risk Products (RRPs). RRPs is the term PMI uses to refer to products with the potential to reduce individual risk and population harm in comparison to smoking cigarettes. Through multidisciplinary capabalities in product development, state-of-the-art facilities, and indusrty-leading scientific substantiation, PMI aims to provide an RRP portfolio that meets a broad spectrum of adult smoker preferences and rigorous regulatory requirements.