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Canadian Cannabis Company Cronos Group (NASDAQ:CRON) in Talks with Altria Group (NYSE:MO)


Canadian Cannabis Company Cronos Group (NASDAQ:CRON) in Talks with Altria Group (NYSE:MO) – December 4, 2018 – Per sources, Altria Group, Inc MO is interested in investing in the Canadian cannabis company, Cronos Group Inc CRON. However, Altria has made no official comments on this matter. Per industry experts, the companies are engaged in initial discussions regarding a potential deal. Let’s wait and see if the market hearsay takes shape and how it impacts the tobacco giant’s performance.

Prospects From Cannabis

Persistent regulatory pressure on tobacco consumption along with mass awareness about negative impacts of nicotine has lowered cigarette consumption rates significantly. This has been marring the performance of several tobacco players. Such aspects have compelled companies like Altria to explore other business advents for sustenance. In this respect, the company has been apparently considering to venture into the nascent but booming cannabis industry.

Well, this is not the first time that Altria has been interested in the marijuana sector. In October, there were rounds that the tobacco giant is considering to buy a stake in Aphria Inc. — another major cannabis producer in Canada.

Moreover, with the legalization of recreational use of marijuana in Canada, many companies are foraying into the cannabis space. In fact, companies have been monitoring the health impacts of cannabis and have started viewing cannabis-infused products as another recreational option.

Although Altria is the first tobacco player to depict an interest in cannabis, it appears to be behind behemoths from the beverage arena. Few months back, Constellation Brands STZ invested in Canada’s Canopy Growth Corp. Also, Coca-Cola KO is eyeing prospects in the market and plans to make an entry through investment in Aurora Cannabis. That said, it is yet to be seen what type of cannabis offerings Altria will come up with and how it markets them, if the company actually invests in Cronos.
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