Marlboro-Maker Altria in Talks to Buy Pot Company Cronos Group
- 5 years ago
Marlboro-Maker Altria in Talks to Buy Pot Company Cronos Group According to CNBC, Altria is
seeking to diversify its business
beyond traditional smokers. According to data from the CDC, cigarette sales have declined as older smokers are dying and less young people are picking up the habit. An anonymous person familiar with the matter said Cronos has not yet agreed to any deal and there is no certainty it will. According to CNBC, Altria has also expressed interest in the
e-cigarette company Juul. Both the marijuana and e-cigarette industries are growing. According to 'Marijuana Business Daily,' the demand for pot is approximately $52.5 billion. Bonnie Herzog, Wells Fargo analyst,
says the e-cigarette market is projected
to hit $6.6 billion in the U.S. this year. Altria has yet to comment on the potential deal, and Cronos has declined to comment.
seeking to diversify its business
beyond traditional smokers. According to data from the CDC, cigarette sales have declined as older smokers are dying and less young people are picking up the habit. An anonymous person familiar with the matter said Cronos has not yet agreed to any deal and there is no certainty it will. According to CNBC, Altria has also expressed interest in the
e-cigarette company Juul. Both the marijuana and e-cigarette industries are growing. According to 'Marijuana Business Daily,' the demand for pot is approximately $52.5 billion. Bonnie Herzog, Wells Fargo analyst,
says the e-cigarette market is projected
to hit $6.6 billion in the U.S. this year. Altria has yet to comment on the potential deal, and Cronos has declined to comment.