- Business
- British American Tobacco p.l.c. (BAT) manufactures and markets tobacco and nicotine products worldwide; the company offers combustible cigarettes under global brands including Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans, State Express 555, Vogue, Winfield, KOOL and Viceroy, as well as local brands such as Benson & Hedges, John Player Gold Leaf, Hollywood, Derby, Capstan, Craven A and Belmont; BAT also provides next-generation products (NGPs) comprising vapour products under Vuse, heated tobacco under glo (including the new premium glo Hilo launched in Japan in June 2025), and oral nicotine pouches under Velo (with Velo Plus featuring synthetic nicotine strengths planned for U.S. launch in 2025); additional offerings include cut-rag tobacco and tobacco-free modern oral nicotine pouches. Founded in 1902 and headquartered in London, England, BAT operates across the Americas, Europe, Asia-Pacific, Middle East, Africa and other regions, serving adult consumers through subsidiaries like Reynolds American in the U.S.; the company holds the second-largest position globally by net sales and focuses on transforming to a smokeless portfolio by 2035 amid declining combustible volumes. Recent developments include plans announced in December 2025 to divest 7-15.3% stake in ITC Hotels via block trade; leadership change with Asia Pacific, Middle East and Africa Regional Director Michael Dijanosic stepping down by end-2025; continued investment in NGPs supporting 1-2.5% adjusted operating profit growth outlook for 2025 and mid-term targets of 3-5% revenue growth by 2026; filing of the 2024 Annual Report on Form 20-F in February 2025; and strategic emphasis on new category innovations like synthetic nicotine products to counter regulatory pressures and illicit trade.