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Marlboro Maker Buys 45% Stake in Cannabis Company for $1.8 Billion

Marlboro Maker Buys 45% Stake in Cannabis Company for $1.8 Billion

December 7th, 2018

One of the world’s biggest tobacco companies is diving into the cannabis market with a $1.8 billion (approx. CAD $2.4 billion) buy-in.

Marlboro maker Altria Group Inc. is taking a 45% stake in Cronos Group, the Canadian medical and recreational marijuana provider said Friday.

Altria will pay another CAD $1.4 billion for warrants that, if exercised, would give Altria a 55% ownership stake in the Toronto company.

That would mean Altria’s investment would be in the same league as the $4 billion spent earlier this year by Constellation Brands to acquire shares of Canopy Growth Corp., another Canadian marijuana producer.

Marlboro Maker Buys 45% Stake in Cannabis Company for $1.8 Billion






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