Source: WRAL TECHWIRE, 12/20/18


Altria, America’s preeminent cigarette company, is looking beyond tobacco for growth. Fresh off a $1.8 billion investment in Canadian cannabis company Cronos Group, Altria is reportedly interested in buying a huge stake in e-cigarette maker Juul. The Wall Street Journal reported Wednesday Altria is seeking a 35% stake in Juul, worth nearly $13 billion. The investment would pair a company that controls half of the American tobacco market with startup Juul — which sells more than 70% of the cartridge-based e-cigarettes in the United States.

For more of this story, click here.