The Fly Blog | Rising High: Altria Bets On Cannabis With Cronos StakePosted by On




Friday, December 7, 2018 8:00 PM EST

Altria (MO) will invest $1.8 billion in cannabis company Cronos Group (CRON), taking about a 45% stake in the company. Additionally, Altria announced plans to exit some of its e-cigarette products, including MarkTen and Green Smoke. According to a report, citing a source, the company is still considering an investment in e-cigarette company Juul.

ALTRIA BETS ON CANNABIS

Altria announced on Friday that it will buy a 45% stake in Cronos Group for about $1.8…



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