Tobacco Titan Altria Initiates Investment in Cannabis Company Cronos
By Dalton Rosario
Marlboro cigarettes maker Altria Group has begun preliminary investment discussions with Canadian cannabis manufacturer Cronos Group for a potential stake in their company. Having already invested in North American alcohol titan Anheuser-Busch InBev, Altria is following strategic initiatives first set in motion by U.S. liquor conglomerate Constellation Brands, who had invested $3.78B into Canopy Growth, an Ontario-based cannabis company this past August.
Although official confirmation for any buyouts are too early to be disclosed, it would not be unreasonable for North America’s largest tobacco conglomerate and owner of Philip Morris USA to transition into cannabis as the healthier alternative to their current product line.