Pyxus International

Pyxus International is an international storage, sales, distribution company and is a publicly held independent leaf tobacco merchant.[2] The company generates revenue primarily by selling leaf tobacco and relevant processing fees charged from tobacco manufacturers worldwide.[3] As of 2014, the company’s enterprise value is $1.27 billion.[1][4] The company operates more than 50 manufacturing facilities worldwide. Its customer base include tobacco manufacturers in United Kingdom, Japan, China, U.S., Southeast of Asia region and elsewhere.[2] On February 8, 2018, the company announced investments in two Canadian cannabis growers and a United States-based hemp producer.[5][6]

Pyxus International, Inc.
TypePublic
OTC Pink Current: PYYX
IndustryTobacco wholesale and distribution; cannabis and hemp production
GenreConsumer goods
Founded2005
HeadquartersMorrisville, North Carolina,
US
Area served
US and United Kingdom
Revenue$2.35 billion (As of 2013)[1]
Number of employees
3,330
Websitewww.pyxusintl.com

History

Alliance One International was established in 2005, as a result of the corporate merger between DIMON Incorporated and Standard Commercial Corporation.[7] The company changed its name to Pyxus International in 2018.[8]

DIMON Incorporated was founded in 1995, and later in 1997 it acquired Intabex Holdings Worldwide, which was the world's fourth-largest leaf merchant at the time. The company’s acquisition of Intabex was considered as the biggest one of that kind in the leaf history.[9]

Standard Commercial Corporation, established in 1910, operated tobacco leaf business in Mediterranean area. It was the third-largest leaf merchant of the world prior to the merger with DIMON.[7]

On June 15, 2020, Pyxus International Inc. filed for chapter 11 bankruptcy. The company's debtors emerged from bankruptcy on August 24, 2020.[10]

Operations

In December 2013, the company announced the expiration of its offer to exchange up to $735 million of 9.875% Senior Secured Second Lien Notes due 2021.[11]

References
  1. "AOI Key Statistics | Alliance One International, Inc Stock - Yahoo! Finance". Finance.yahoo.com. Retrieved 2014-02-17.
  2. "Alliance One Tobacco (Malawi) Ltd - AGE". Institute Development Economies Japan External Trade Organization. ide.go.jp. Retrieved 2014-02-17.
  3. "Alliance One International, Inc.: NYSE:AOI quotes & news - Google Finance". Retrieved 2014-02-17.
  4. "AOI Profile | Alliance One International, Inc Stock - Yahoo! Finance". Finance.yahoo.com. Retrieved 2014-02-17.
  5. "Publicly-Traded Global Tobacco Company Bets on Cannabis". New Cannabis Ventures. Retrieved 2018-02-09.
  6. "Big US tobacco company buys stakes in Canadian cannabis growers, American hemp firm". Marijuana Business Daily. 2018-02-08. Retrieved 2018-02-09.
  7. "Alliance One International : Company History". Aointl.com. Archived from the original on 2014-02-09. Retrieved 2014-02-17.
  8. "Alliance One International, Inc. Proposes Change in Corporate Name to Pyxus International, Inc". www.aointl.com. July 16, 2018. Retrieved 21 February 2021.
  9. "Acquisition of Intabex Holding Worldwide". The New York Times. 15 February 1997.
  10. "Post-Reorg: Pyxus Has Limited Flexibility Under Exit Facilities to Strengthen Liquidity; Company Can Incur Up to $10M of 1L Debt, $50M of 2L Debt". www.reorg.com. March 23, 2021. Retrieved 1 April 2021.
  11. "Alliance One International Announces Expiration of Exchange Offer for 9.875% Senior Secured Second Lien Notes Due 2021". Yahoo finance. Archived from the original on 2014-03-05. Retrieved 2014-02-20.
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