Altria, the company that makes Marlboro cigarettes, is looking into purchasing other companies as cigarette sales are declining. Altria is looking to grow its business beyond the traditional smoker. It has been reported that tobacco sales are declining as older smokers are dying and younger individuals are not gravitating to smoking tobacco. One industry that is growing, however, is the marijuana industry, which reportedly had a demand of approximately $52.5 billion.
Altria has reached out to Cronos Group, a leader in the marijuana industry. Currently, Cronos has not accepted any deal with Altria and neither party has commented on the terms of negotiation. It currently does not seem likely the Cronos will accept the offer.
This is not the only industry Altria is looking into, though. It has been reported that Altria has been interested in the e-cigarette business as well. E-cigarettes are another growing industry, especially within the younger community that has been tough for Altria to reach. One company that Altria has been especially interested in is Juul, one of the biggest names in e-cigarettes. No official offer has been made to Juul at this time.