Top 5 U.S. C-Store Chains Grow More than 10% in Best Branded Products
MOXVILLE, North Carolina–(Newsfile Corp. – April 11, 2024) – 22nd Century Group, Inc. (NASDAQ: XXII), a tobacco products company focused on nicotine harm reduction, today announced the launch of its Pinnacle private label brand. announced that it has expanded. Add sales of cigarillo products to existing Pinnacle cigarette products. Pinnacle products are currently sold under private label brands in the top five U.S. gas station convenience store chains with approximately 1,700 stores in 26 states.
Pinnacle's reorder volumes for cigarette products are now experiencing continued growth as the private label agreement with this top retail customer enters its second year, and the company itself is experiencing significant growth in tobacco sales. They are gaining market share by providing value to their customers. Pinnacle Cigarillos will help provide a new alternative for customers of this his c-store chain, as well as increase the number of Pinnacle branded products available to customers. Pinnacle's new product inventory is expected to ship in the second quarter.
“Building on our success in growing sales of our private label cigarette products sold in one of the nation's top c-store chains,” said Chairman and CEO Larry Firestone, “We're excited to expand the Pinnacle brand with new cigarillo products, and deals like this help us.” We are working toward break-even operations by the first quarter of 2025, further increasing the revenue and profitability of our business. ”
This cigarillo expansion agreement is in addition to the recently announced new CMO customer agreement, which will increase the company's CMO production by at least 20%, with shipments expected to begin in the second quarter.
About 22nd Century Group Co., Ltd.
22nd Century Group, Inc. (NASDAQ: XXII) is an agricultural biotechnology company focused on reducing tobacco harm through plant science, reducing tobacco nicotine and improving health and wellness. With dozens of patents that enable control of nicotine biosynthesis in tobacco plants, we have developed a unique reduced nicotine content (RNC) tobacco plant and cigarette. They are the basis of FDA's comprehensive plan to address the widespread death and disease caused by tobacco. smoking. In December 2021, we received the first and only FDA Modified Risk Tobacco Product (MRTP) clearance for combustible cigarettes. 22nd Century leverages the latest plant breeding techniques, including genetic engineering, gene editing, and molecular breeding, to provide solutions for the life sciences. Contributing to the consumer products industry by creating new and unique plants with optimized alkaloid and flavonoid profiles, improved yields, and valuable agronomic traits.
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Investor Relations and Media Contacts
matt kreps
PR for investors
22nd century group
mkreps@xxiicentury.com
214-597-8200
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