Global cigarette sales are in precipitous decline. Meanwhile, the E-Cigarette and Cannabis sales are exploding. The Marlboro maker Altria Group, which has a market cap of $100 billion, is painfully aware of its declining market share and eroding younger smoker base, as more and more youngsters turning to the discreet and hip E-Cigarette devices.
The Marlboro Man Makes a Bold Move
The world’s largest cigarette maker betting on the new millennial brand that has captured the imagination of young smokers.
Altria CEO Howard Willard spent months discretely negotiating with companies in the burgeoning Cannabis and E-Cig market, and he recently announced a huge deal that surprised the industry and stunned the shareholders. Altria agreed to pay a whopping $13 billion for a 35% stake in a 3 year old startup JUUL.
JUUL, the New Marlboro
The CEO of Altria, owners of the Marlboro brand, had tried and failed miserably to start a new e-cigarette brand, and the growing popularity of JUUL had left him with no other choice, so he did the next best thing, if you can’t beat them, join them! However, some industry experts think that he might have a paid a little too much (JUUL was valued only $300 million in 2017) Altria valued the company at a whopping $38 billion, holy smokes!
Editor
Daily Stock Deals
Sources: The Company, WSJ, Oxbridge Research, POTTV network, Daily Stock Deals
Top 10 E-Cigarette & Vaping Facts
Editor’s note:
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