Richmond, Virginia-based Altria Group Inc. has signed and closed a $12.8 billion investment in JUUL Labs Inc., the U.S. leader in e-vapor. The service agreements will accelerate JUUL’s mission to switch adult smokers to e-vapor products. Altria’s investment represents a 35 percent economic interest in JUUL, valuing the company at $38 billion. JUUL will remain […]
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Altria Refocuses Innovative Product Efforts
Altria Group Inc. is discontinuing production and distribution of all MarkTen and Green Smoke e-vapor products and VERVE oral nicotine containing products. This decision is based upon the current and expected financial performance of these products, coupled with regulatory restrictions that affect Altria’s ability to quickly improve these products. The Richmond, Virginia-based company says it will refocus its resources on more […]
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Altria Group Restructures To Accelerate Tobacco Innovation
On May 22, Altria Group announced a new structure to maximize its core tobacco businesses while “realizing its aspiration to be the U.S. leader in authorized, non-combustible, reduced-risk products.” Key components of this new structure: Establishment of two divisions—core tobacco and innovative tobacco products. Creation of a chief growth officer function to accelerate speed to market […]