WORLD’S LEADING CIGARETTE COMPANY IN TALKS WITH CANADIAN MARIJUANA PRODUCER
- December 5, 2018
When you really think about the situation, our world has enough trouble with drugs and alcohol doesn’t it? With each passing day, a new person falls victim to drug addiction as another emerges victorious from rehabilitation. So, imagine how difficult the circumstances can become for the public when cigarette companies start teaming up with marijuana producers? Now, of course, the little green plant has been proven to be beneficial at times (particularly CBD-heavy strains for medical use). Nevertheless, pairing a psychoactive herb with a pungent and carcinogenic substance like tobacco doesn’t exactly spell victory for the masses, does it? According to sources, though, Altria Group (the maker of the Marlboro cigarette) is inquiring about investing in the Cronos Group, a huge producer of cannabis in Canada. How will this work out? Let’s take a closer look and learn more about this situation.
Boost in Cannabis, Plummet of Tobacco
Overall, Altria Group is a very innovative company that has explored a variety of alternative markets. Recently, it obtained a controlling interest in Kraft Foods (later used for significant profit) and currently owns the Ste. Michelle Winery. Likewise, the company has also placed significant investments in the e-cigarette market by making huge investments in Juul Labs and acquiring Nu Mark. So, of course, the next possible option is to look into the success of the cannabis industry, mostly due to the fact that (simply put) tobacco has dropped in popularity while marijuana has skyrocketed.
Companies Watching Marijuana
Nevertheless, Altria Group’s decision to take part in the Cronos Group is not the first time a big-name tobacco company has established a deal with a brand new cannabis company. In Jun 2018, for example, Imperial Brands of London, England (the 4th largest tobacco company in the world) purchased Oxford Cannabinoid (Britain). Likewise, Constellation Brands (known for Corona and Modelo beer) put forward a $3.8 billion investment in Canopy Growth (Canada). Likewise, the Coca-Cola Company (Atlanta, Georgia) has expressed interest in creating a pot-infused beverage.
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