Marlboro entered the marijuana market | Invest …

Tobacco Marlboro has decided to invest in the cannabis market with the purchase of 45% of the Cronos group, a Canadian company dedicated to marijuana for medical and recreational purposes. This was announced by Altria, the owner of Marlboro. The investment is about 2,400 million dollars.

In turn, Cronos announced that Marlboro would disburse an additional $ 1.4 billion for guarantees that, if exercised, would give the tobacco company a 55% stake in the cannabis-focused society. Cronos shares rose 31% after the official announcement.

Earlier in the week, Cronos had announced that he was in discussion with the parent company of Altria, based in Richmond, Virginia. Altria is home to Philip Morris, one of which is Marlboro, and is the largest producer of cigarettes in the world.

This year, Canada has legalized the recreational use of marijuana and, in several states in the United States, regulations are moving in that direction. Tilray Inc., a Canadian medical cannabis company, began publicly traded in the United States with a market value of $ 10 billion.

Marlboro's entry into the cannabis market has already been a story. Constellation Brands Inc., owner of Corona Beer, among other products, was badociated with Growth Corp., one of Canada's leading marijuana growers, with a share of 38%.

The market for cannabis use has huge potential. According to investment firm Arcwiew Market Research, the legal cannabis market is expected to reach $ 57 billion worldwide. US consumers spent $ 9.2 billion last year; By 2027, this figure could rise to 47,300 million.