LOUISVILLE, Ky.--(BUSINESS WIRE)--
Turning Point Brands, Inc. (NYSE:TPB), a leading provider of Other
Tobacco Products (OTP) through brands such as Stoker’s, Zig-Zag and
Primal, is set to join the all-cap Russell 3000 Index on June 27, 2016
as part of Russell's annual rebalancing of its U.S. indexes.
TPB's selection to the Russell 3000 remains in place for one year and
automatically includes the company in appropriate growth and value style
indexes and the Russell 2000 small cap index. TPB is also listed in the
upper range of the Russell microcap index. Russell determined the stocks
for its indexes based on their market capitalization ranking on May 31,
2016.
“We are very pleased to join the family of Russell'sU.S. indexes,” said
Larry Wexler, Turning Point Brands' President and CEO. "This enhances
our corporate visibility and continues the momentum generated from our
initial public offering, which was an important component of our
strategy for competing in the $10 billion OTP market. Our financial
flexibility post-IPO allows us to target growth opportunities by
focusing resources in key areas -- such as expanding our salesforce,
developing innovative products and exploring new market segments
organically and through acquisitions."
Each June, the entire family of Russell U.S. and Russell Global Indexes
are realigned and recalibrated to reflect market changes in the past
year. FTSE Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for active
investment strategies, and approximately $6 trillion in assets are
benchmarked to and invested in products based on the U.S. indexes.
Additional information on the Russell 3000® Index and the
Russell US Indexes reconstitution is available from the “Russell
Reconstitution” section on the FTSE
Russell website. FTSE Russell is wholly owned by London Stock
Exchange Group.
About Turning Point Brands, Inc.
Louisville, Ky. based Turning Point Brands, Inc. (NYSE:TPB) is a leading
U.S. provider of Other Tobacco Products (“OTP”). Through widely
recognized brands such as Zig-Zag®, Beech-Nut® and Stoker’s®, the
company markets smokeless products (chewing tobacco and moist snuff
tobacco), smoking products (premium cigarette papers and cigar
products), new generation electronic products (e-cigarettes, vaporizers
and E-Liquids), and new generation non-nicotine, non-tobacco products
sold through the Primal™ brand. More information about the company is
available at www.turningpointbrands.com.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the federal securities laws. Forward-looking statements may
generally be identified by the use of words such as "anticipate,"
"believe," "expect," "intend," "plan" and "will" or, in each case, their
negative, or other variations or comparable terminology. These
forward-looking statements include all matters that are not historical
facts. By their nature, forward-looking statements involve risks and
uncertainties because they relate to events and depend on circumstances
that may or may not occur in the future. As a result, actual events may
differ materially from those expressed in or suggested by the
forward-looking statements. These risks and uncertainties are more fully
described in the Company's filings with the Securities and Exchange
Commission, including its most recent Quarterly Report on Form 10-Q. Any
forward-looking statement made by TPB in this press release speaks only
as of the date hereof. New risks and uncertainties come up from time to
time, and it is impossible for TPB to predict these events or how they
may affect it. TPB has no obligation, and does not intend, to update any
forward-looking statements after the date hereof, except as required by
federal securities laws.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160621006576/en/
Investment Community:
Turning Point Brands, Inc.
Mark A.
Stegeman, 502-774-9238
Senior Vice President, Chief Financial
Officer
ir@tpbi.com
or
Media:
Mozaic
Investor Relations, Inc.
Terry McWilliams, 502-774-9238
President
ir@tpbi.com
Source: Turning Point Brands, Inc.