Tobacco producer Altria, owner of the Marlboro brand, is in early talks with the executive team of Cronos Group in regards to an acquisition.
Altria has been shopping around for a new subsidiary, or maybe even two.
First, there were rumors circling that Altria may acquire JUUL, an electronic cigarette manufacturer that spun off from Pax Labs. Earlier this year, Altria was rumored to be interested in acquiring Aurora Cannabis, but later denied that rumor.
However, this time the rumors are confirmed and true—Altria may be acquiring Cronos Group, one of the 4 Canadian LP’s listed on the US stock exchange.
Seeing how cigarette smoking has seen a downward trend in the last couple of years, Altria may be looking into diverting from tobacco and moving into cannabis.
After all, cannabis and vaping have seen an extreme rise in popularity over the last couple of years. To add to that, legislation has been moving in the same directions as well.
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