Altria to invest $1.8 billion in cannabis

From CNBC:

Altria Group said Friday it agreed to buy a 45% stake in leading cannabinoid company Cronos Group for about $1.8 billion, a sign of the new world in which Altria must compete.

Altria is also weighing an investment in e-cigarette company Juul, CNBC has reported. Those talks could be completed as soon as soon as later this month, a person familiar with the situation tells CNBC.

Sales of cigarettes have slowed and its customers have either turned to other recreational products – like cannabis and e-cigarettes – or are threatening to do so in the future. Those industries, though, are in need of expertise to navigate regulatory hurdles and capital to invest in their company…

Continue reading at CNBC…

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