EQS Group-News: Dynamics Group AG
/ Key word(s): Merger/Mergers & Acquisitions
www.snusmarkt.ch: Snusbolaget merges with Northerner to form Haypp Group
27.09.2019 / 15:25
Snusbolaget merges with Northerner to form Haypp Group
- Merged company will be largest global reseller of tobacco-free "All White" nicotine patches
- Combined entity will have revenues of ~SEK600m (~EUR56m)
- Haypp Group will be led by Gavin O'Dowd, current Snusbolaget CEO
Snusbolaget Norden AB ("Snusbolaget") and Northerner Scandinavia Inc. ("Northerner"), two pioneers in the smoke-free nicotine alternatives market, have today announced a merger to form Haypp Group.
Haypp Group will be the world's largest retailer of tobacco-free "All White" products and the largest European online retailer for non-combustible tobacco products. The combined entity will have revenues of around SEK600m (around EUR56m) and over 500,000 customers in over 100 markets.
This merger represents the next step in Snusbolaget's growth. In the ten years since it was founded, Snusbolaget has grown its business and market share across its key markets to revenues of SEK500m in 2018. Snusbolaget expanded to Norway and Switzerland in 2018 (see www.snusmarkt.ch), and the UK earlier in 2019.
Northerner was founded in 1998 and operates globally with organisations in Sweden, Norway, Denmark and the United States. It is the largest online retailer of smokeless tobacco and tobacco-free nicotine patches outside the Scandinavian markets and posted revenues in 2018 of SEK100m.
This partnership will allow Haypp Group to consolidate its position in the growing tobacco-free nicotine pouches market and allow it to develop in new and existing geographies, such as the United States.
The combined entity will be based in Stockholm, with warehouses in Norway, Sweden, Denmark and the United States. It will be led by Gavin O'Dowd, the current CEO of Snusbolaget, and will have over 70 employees.
About Haypp Group
Haypp Group is spearheading the global transformation from smoking to healthier alternatives. With origin in Sweden and our long experience from a pioneering market in smoke free alternatives as well as leading e-commerce we successfully take on our vision on global scale. Currently Haypp group with the businesses Snusbolaget, Snushjem, Snusmarkt and Haypp experience immensely growing businesses in Scandinavia, EU, U.K, Switzerland and the U.S.