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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsAltria (Phillip Morris) buys $1.8Billion worth of weed
Altria to invest $1.8 billion in Canadian cannabis producer Cronos
(Reuters) - Marlboro cigarette maker Altria Group Inc made a big bet on the rapidly growing marijuana industry on Friday with a $1.8 billion investment in Canadian cannabis producer Cronos Group Inc.
The deal gives Altria an up to 55 percent stake in Cronos and is the latest in a string of investments from consumer companies hoping to benefit from Canada's move to legalize marijuana for recreational use.
Corona beer maker Constellation Brands announced a $4 billion investment in Canadian cannabis producer Canopy Growth in August, the biggest investment so far in the industry.
https://mobile.reuters.com/article/amp/idUSKBN1O61BS
JCMach1
(27,555 posts)States!
Amishman
(5,554 posts)If the Republicans weren't so stubbornly rooted in the past, they'd legalize it themselves to end an issue that has been hurting them for years. We should be grateful for the hidebound drug warriors in the Pubs ranks
GreatCaesarsGhost
(8,584 posts)Guy Whitey Corngood
(26,500 posts)Dulcinea
(6,616 posts)There's no stopping it. Altria wants to get in on the action, since fewer people smoke cigarettes.
brush
(53,764 posts)Legal mj is coming here too. But where in Canada is the climate ideal for mj cultivation?
Anyway, I never understood why oil company executives never went after the green energy market? That's what's coming over the horizon. They're the energy people so why not learn to or acquire green energy technology?
underpants
(182,736 posts)The big beer manufacturers bought a lot of the microbrewers from the beginning. They aren't in the (brand name) business, they are in the beer business.
Codeine
(25,586 posts)Their talking heads and lobbyists might rail against it but even they see the writing on the wall.
https://www.google.com/amp/s/www.fool.com/amp/investing/2018/06/04/big-oil-is-investing-billions-in-renewable-energy.aspx
brush
(53,764 posts)Solar, wind, geothermalall good but the algae and cellulosic sugar industry investments seem questionable as their end products are burnable forms of petroleum, which is what we should be moving away from.
I didn't notice any wave energy investments in the chart either.
MrGrieves
(315 posts)Nicotine and other addictive and harmful additives in their joints?
dalton99a
(81,432 posts)pecosbob
(7,534 posts)Gee...I wonder what they might do once they control all the seeds? Just think...roundup weed.
Volaris
(10,269 posts)And THEN they'll tell you, that since yours isn't manufactured in a controlled laboratory environment, you cannot gurantee it's quality, and so yours should be illegal to sell to consumers.
It will take 5 yesrs from full legalization, and that will be their blanket argument, you fucking watch.
THIS is why I wanted it legal for People, and NOT for Tobacco and Pharma.
MrGrieves
(315 posts)Capitalism has a way of perverting everything eventually.