toronto company

NEW YORK | Marlboro maker places $2.4 billion bet on marijuana

NEW YORK — One of the world’s biggest tobacco companies is diving into the cannabis market with a $2.4 billion buy-in. Marlboro maker Altria Group Inc. is taking a 45 percent stake in Cronos Group, the Canadian medical and recreational marijuana provider said Friday. Altria will pay another $1.4 billion for warrants that if exercised, … Continue reading NEW YORK | Marlboro maker places $2.4 billion bet on marijuana

NEW YORK | Marlboro maker leaps into the cannabis trade with $2.4B

NEW YORK — One of the world’s biggest tobacco companies is diving into the cannabis market with a $2.4 billion investment in Cronos Group, a Canadian medical and recreational marijuana company. Altria, which makes Marlboro cigarettes, is taking a 45 percent stake in the Toronto company. Cronos said Friday that the Richmond, Virginia, tobacco company … Continue reading NEW YORK | Marlboro maker leaps into the cannabis trade with $2.4B