Big Tobacco companies Hedge their bets with Vape products
Big tobacco companies have lost their behinds to vaping products in the last few years alone.
Now they are hedging their bets by investing in these companies, but their are still a lot of big tobacco companies and tobacco farmers that ate likely joining the crusade against vaping....which reportedly contributed to appx 5 deaths (although a toxic combination ingredients in whatever was being vaped (i.e., THC + ) may have been the issue. Meanwhile how many have died from using conventional tobacco products? I'm not defending tobacco products or vaping but we need to know what the facts are before this becomes yet another political football.
Of some interest from an old story:
Altria, a giant in the world of tobacco conglomerates, just spent $12.8 billion dollars to purchase a 35 percent minority stake in Juul, a company that currently dominates the e-cigarette market. This deal puts the value of Juul at an eye-popping $38 billion dollars, more than doubling the $15 billion valuation from earlier this year.
Some details of the deal were first reported in the Wall Street Journal on Wednesday, and rumors of such a deal have circulated for weeks. The purchase gives Altria, the company behind Marlboro cigarettes in the United States, a large share of the booming e-cigarette market.
“We are taking significant action to prepare for a future where adult smokers overwhelmingly choose non-combustible products over cigarettes,” Howard Willard, Altria’s CEOsaid in a statement.