Philip Morris International acquires minority stake in Egypt-Based Eastern Company
Acquiring Company
Philip Morris International
Acquired Company
The Eastern Company
StamfordSheltonManufacturingBiotechnologyAgriculture and FarmingHealth CareGovernmentCannabisManufacturingDescription
Philip Morris International has announced the acquisition of a minority indirect stake (14.7%) in Egypt-based Eastern Company, Egypt’s largest cigarette manufacturer. The acquisition aims to explore potential areas of cooperation, particularly in the fields of technology, manufacturing, and innovation, including heated tobacco products, towards a smoke-free future in Egypt.
Quick answer
Philip Morris International is acquiring The Eastern Company, announced May 22, 2024. Philip Morris International is based in Stamford, Connecticut, United States.
- How much did Philip Morris International pay for The Eastern Company?
- The deal value was not disclosed.
- What does Philip Morris International do?
- Philip Morris International (PMI) is a leading international tobacco company working to deliver a smoke-free future and evolving its portfolio for the long term to include products outside of the tobacco and nicotine..
- Where are Philip Morris International and The Eastern Company based?
- Philip Morris International is based in Stamford, Connecticut, United States. The Eastern Company is based in Shelton, Connecticut, United States.
- Who are the decision-makers at Philip Morris International?
- Fundz holds 1 contact at Philip Morris International. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
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Frequently asked
Who acquired The Eastern Company?
The Eastern Company was acquired by Philip Morris International, based in Stamford. The deal was reported on May 22, 2024. Philip Morris International is publicly traded (PM) and operates in Manufacturing.
When did Philip Morris International acquire The Eastern Company?
Philip Morris International's acquisition of The Eastern Company was reported on May 22, 2024. Philip Morris International has announced the acquisition of a minority indirect stake (14.7%) in Egypt-based Eastern Company, Egypt’s largest cigarette manufacturer. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does The Eastern Company do?
The Eastern Company is a diversified manufacturer with a focus on producing industrial hardware and security products. It is publicly traded (EML), operating in Manufacturing, and is based in Shelton.
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