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Tuesday, July 09, 2019 7:53:33 PM
Carey wrote to investors that he expects Cronos to heavily leverage its connection with Altria to launch hemp CBD products in the U.S. Altria's tobacco products, including Marlboro and Virginia Slims cigarettes and Skoal smokeless tobacco, are sold in around 230,000 retail locations.
https://finance.yahoo.com/news/why-much-maligned-cronos-group-111500355.html,00
https://en.wikipedia.org/wiki/Altria
Altria Group, Inc. is an American corporation and one of the world's largest producers and marketers of tobacco, cigarettes and related products. It operates worldwide and is headquartered in Henrico County, Virginia, just outside the city of Richmond.
Altria is the parent company of Philip Morris USA, John Middleton, Inc., U.S. Smokeless Tobacco Company, Inc., Philip Morris Capital Corporation, and Chateau Ste. Michelle Wine Estates. Philip Morris International was spun off in 2008. Altria maintains a ~10% stake in Belgium-based brewer ABInBev. It is a component of the S&P 500 and was a component of the Dow Jones Industrial Average until February 19, 2008. On January 6, 2009, Altria acquired UST Inc., a smokeless tobacco manufacturer, which also owned wine producer Ste Michelle Wine Estates, and is now a subsidiary of Altria.
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