Haypp Group acquires a Swedish tier 1 online business
The Haypp Group has acquired certain assets relating to a Swedish tier 1 online business, with estimated closing June 30. The acquisition acknowledges Haypp Group’s position as a Swedish market leader in nicotine pouches.
After an overall successful year 2020 in the Nordics in general and in Norway in particular, Haypp Group is further advancing its market positions in the Nordic core markets.
Haypp Group’s investment in customer experience, particularly in distribution capabilities, platform development and advanced analytics, in recent years has generated the confidence to further expand its footprint in Sweden as reflected by this acquisition.
Significant growth potential
According to WHO, global cigarette sales amounted to USD 888 bn in 2018, consumed by around 1.1 bn people. Haypp Group's target is to annually convert five percent of all smokers to users of tobacco-free nicotine. Currently, the global market for snus and nicotine pouch products is estimated to amount to approximately EUR 3 bn, with an expected annual growth rate for nicotine pouch products above 30 percent until 2025.