Introduction and Business Overview Imperial Brands is a Company dedicated mostly to the manufacture, marketing, and sale of tobacco products. The company was founded in 1901, has a current market cap of GBP 14.788 billion, 32,500 employees, and annual sales of GBP 16.6 billion in 2020. According to its market shares it is the fourth largest tobacco company in the world after Philip Morris, British American Tobacco, and Tobacco International (Tobacco Tactics, 2021). The company has three main lines of business: tobacco, NGP (Next Generation Products), and distribution. The tobacco segment manufactures, markets, and sells cigarettes, rolling tobacco, rolling papers, and premium tobacco (cigars), although Imperial has had to sell the premium tobacco business in 2020 to pay down some of its debt. Some of the most well-known tobacco brands of Imperial Brands are Davidoff, JPS; Gauloises Blondes, West, Winston, and Parker & Simpson. The NGP segment includes products like “heated-not-burn...
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