Wednesday , October 20 2021

Marlboro enters the marijuana market | Investment …



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Tobacco Marlboro decided to invest in the cannabis market by buying 45 percent of Cronos Group, a Canadian company dedicated to medical and recreational cannabis. It was announced by Marlboro the owner Altria. The investment is about $ 2,400 million.

In contrast, Cronos reported that Marlboro will pay $ 1.4 billion more if it is applied, guaranteeing that it will have a 55% stake in the cannabis-focused company. After the official ilantan, Cronos shares increased by 31 percent.

Earlier in the week, Cronos reported that Virginia was meeting with the parent company of Altria, located in Richmond. Altria is the headquarters of Philip Morris, the world's largest cigarette manufacturer, with Marlboro products.

This year, Canada legalized the use of cannabis, and in some states of the United States, regulations have moved in this direction. Tilray Inc., a Canadian medical marijuana company, began trading on the stock exchange in the US and reached a market value of $ 10 billion.

There is already a date for Marlboro's entry into the hemp market. Constellation Brands Inc., the owner of Corona beer, is among other products as well as Growth Corp., one of Canada's leading marijuana producers. and the share reached 38 percent.

The hemp consumer market has tremendous potential. According to the investment company Arcwiew Market Research, the legal cannabis market is expected to reach 57 billion dollars in the world within ten years. US consumers spent $ 9.2 billion last year; By 2027 the figure could increase to 47,300 million.

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