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".
  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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