Altria Group May Invest in Cannabis Producer Aphria Inc.

0
1583
Altria Group May Invest in Cannabis Producer Aphria Inc.

Altria Group Inc., maker of popular cigarette brand Marlboro, may be breaking into a new market–cannabis. Last week, reports began to emerge that the big tobacco company was in talks with Canada-based cannabis producer Aphria Inc.

The Globe & Mail reported that Altria Group Inc. was interested in acquiring an equity stake in Aphria Inc., news that sent Aphria’s stock rising to 14.1 percent. While The Globe cited many anonymous sources, the news outlet revealed that Altria was aiming for a minority stake for the time being but if the deal terms are met, could be going for a majority stake in the future.

Aphria released the following statement about the potential investment from Altria: