British American Tobacco - BAT announces Sanity Group investment

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News Release

26 September 2022

BAT announces Sanity Group investment

Following today’s announcement by one of Germany’s leading cannabis companies, Sanity Group GmbH (Sanity Group), BAT, via one of its wholly owned group companies, has acquired a non-controlling minority stake in the company.

This investment is complementary to other recent investments made by BAT or BAT companies, most notably the strategic R&D collaboration established with Canada’s Organigram Holdings Inc. announced in March last year.  The stake in Sanity Group adds a European dimension to one of the many BAT explorations beyond nicotine.

Sanity Group, which is based in Berlin, has a well-established product portfolio of CBD consumer brands and medical cannabis brands.  It also has a proven track record in the research, development and marketing of cannabis products.  

Kingsley Wheaton, Chief Growth Officer at BAT, said: “Investing in Sanity Group is another example of BAT’s ongoing work to explore numerous areas beyond nicotine, positioning BAT for future portfolio growth across a range of categories and geographies.

“We continue to transform our business, through better understanding of our current and future consumers, as part of our A Better Tomorrow purpose.”

Notes to Editors

BAT has considered its obligations under applicable laws and regulations in undertaking this investment and has taken appropriate measures to ensure compliance with such laws.


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Forward-looking statements

This release contains certain forward-looking statements, including "forward-looking" statements made within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are often, but not always, made through the use of words or phrases such as "believe," "anticipate," "could," "may," "would," "should," "intend," "plan," "potential," "predict," "will," "expect," "estimate," "project," "positioned," "strategy," "outlook", "target" and similar expressions. These include statements regarding our customer target ambition, New Categories revenue targets and our ESG targets.

All such forward-looking statements involve estimates and assumptions that are subject to risks, uncertainties and other factors. It is believed that the expectations reflected in this release are reasonable but they may be affected by a wide range of variables that could cause actual results to differ materially from those currently anticipated. A review of the reasons why actual results and developments may differ materially from the expectations disclosed or implied within forward-looking statements can be found by referring to the information contained under the headings “Cautionary Statement” and "Group Principal Risks " in the 2021 Annual Report and Form 20-F of British American Tobacco p.l.c. (BAT).

Additional information concerning these and other factors can be found in BAT's filings with the U.S. Securities and Exchange Commission ("SEC"), including the Annual Report on Form 20-F and Current Reports on Form 6-K, which may be obtained free of charge at the SEC's website, and BAT’s Annual Reports, which may be obtained free of charge from the BAT website

Past performance is no guide to future performance and persons needing advice should consult an independent financial adviser. The forward-looking statements reflect knowledge and information available at the date of preparation of this release and BAT undertakes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on such forward-looking statements.