Zyn Tobacco will invest $50 million to buy into tobacco brands in the US, the UK and Ireland, according to a regulatory filing.
The UK’s biggest tobacco company, Zyn, said it was also looking to expand its business in Australia and New Zealand, the filing said.
The company said it would invest $20 million in the Netherlands, Germany and Spain.
Zyn was formed in 2014 by the late Ian Wright, who also founded Dunhill, Britain’s biggest independent tobacco company.
In a statement, the company said the move would create “a truly global brand” with a “worldwide network of brands”.
“We’re delighted to be entering the tobacco sector with Zyn,” said Mike McEwan, the chairman of the board of directors of Zyn.
“The UK, the US and the Irish are all highly-competitive markets, with strong consumer sentiment about tobacco use and smoking,” he said.
Zydeco’s investment will see the company expand its portfolio in the U.K., with a focus on cigarette brands and products, and its tobacco products business.ZYN said the investments would support the growth of its tobacco brands, which include Zydeco, Tullow, Trolleys, Smokehouse and Smokehouse Premium.
“Zyn has an incredible opportunity to grow its portfolio of brands across the UK with a new focus on the UK market,” McEwen said.
“It will enable us to invest more in the tobacco industry, and in the brands we already have, with our partners at Dunhill and Zydeco.”
The investment comes on the heels of a recent announcement from the U