In what can be seen as a positive endorsement of the future of e-cigs and vaping, e-cig brand NJOY has received a major capital investment from Catterton Partners–to the tune of $20 million dollars. Catterson is a consumer focused, private equity firm. Other well known brands in the firm’s portfolio include Natures Variety Pet Food and One Natural Experience (aka O.N.E) beverages.
NJOY greeted the investment with the pronouncement that they see Catterton not merely as a source of investment, but also as a strategic partner. Catterton has a reputation of choosing only the best companies in their categories in which to invest and utilize their expertise as well as their cash to generate long term success in those companies.
NJOY is looking to Catterton’s partnership to aid in increasing their brand strength, distribution and market share. This kind of high dollar, high profile attention and cooperation is a good indication that e-cigs are here to stay and moving from a niche market into the financial mainstream.