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This venture capital business has invested in start-ups and scale-ups such as Awake Chocolate and Blockhead, and I think BAT has three major strengths which should help it compete effectively outside its traditional tobacco and nicotine-based markets: Long-established R&D capabilities specialising in plants and ingested chemicals Decades of global brand-building experience A well-oiled global distribution machine Of course, moving into products that stimulate or soothe consumers will mean stepping on the toes of some very large and established competitors

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Pipe Used: Sharrow Bulldog, Meerschaum, Calabash PurchasedFrom: Boswell pipes Chambersburg pa Age When Smoked: Fresh 2 people found this review helpful

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This is a value stock where ~8x P/E and ~8% are the investment case

*China National Tobacco Corporation is the worlds largest producer of cigarettes, but is not included in the Big 4, as it primarily serves the Chinese domestic market