NDAQ:XXII - Post Discussion
Post by
khandaanita4444 on Sep 27, 2024 3:38pm
22nd Century Group Expands with New Moonlight Brand Deal
Mocksville, North Carolina – On September 23, 2024, 22nd Century Group, Inc. (NASDAQ: XXII) announced a new customer agreement to supply its Moonlight branded cigarettes to the Southeast Asia market. This deal is expected to drive significant growth, with the first shipment anticipated in Q4 2024. Volumes could expand further throughout 2025 as the brand launches in key markets, potentially increasing the company’s manufacturing output by over 30% once fully scaled.
Chairman and CEO Larry Firestone highlighted this as a key growth opportunity: “This new customer allows us to leverage underutilized in-house brand assets, boosting our presence in a region with a strong smoking culture.” He also noted the company’s plans to expand other brands like Pinnacle, Magic, and Ranger globally, while continuing to build momentum with their flagship VLN® 95% reduced nicotine cigarettes.
This latest deal complements 22nd Century's broader strategy, which includes recent market expansions into South Korea and the U.S. as it pushes for leadership in reduced-risk tobacco products globally.
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