Monday , January 25 2021

Marlboro entered the medical and entertainment market for marijuana

One of the largest tobacco companies in the world has launched the cannabis market with an investment of $ 1.8 billion in the Cronos Group, a Canadian medical and entertainment company for marijuana.

Altria, which produces Marlboro cigarettes, acquires 45 percent of Cronos shares, the company said on Friday. Toronto.

He added that the Tobacco Company Richmond, Virginia, will pay to others 1,400 million from the dollar for guarantees that, if exercised, would give Altria a majority stake in 55% of the property.

This would mean that Altria's investment will be at the same level as the $ 4 billion previously spent by Constellation Brands to acquire Altria shares. Canopy Growth Corp., another Canadian marijuana maker.

The investment made in August by Constellation, which makes Corona and other beverages, was the largest ever of a major US corporation on the cannabis market.

Whatever the fluctuation of big corporations in USA As regards the penetration of the cannabis market, it seems to disappear if there is a financial justification.

Altria's enormous investments have encouraged cannabis companies that have begun to settle in Canada, where their recreational consumption was legalized this year.

The shares of Cronos Group Inc. increased by 31% and came close to a historic peak at the opening on Friday.

The rapid rise in the cannabis market is expected to continue as legalization in the US expands and social norms are changing. On Tuesday, Uta's ultra-conservative state became the latest state to legalize the use of marijuana for medical purposes.

Consumers are expected to spend $ 57,000 million a year in legal cannabis for 2027, according to Arcview Market Research, a cannabis-focused investment company.

In North America, these costs are expected to increase $ 9,200 million in 2017 to 47,300 million in 2027.

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