Marlboro enters the marijuana trade

[blaze]

Wonder how *this* will play out...

https://apnews.com/ea6e7bba9e064babb1c88212cabf2bc8?utm_medium=AP&utm_campaign=SocialFlow&utm_source=Twitter

NEW YORK (AP) — One of the world’s biggest tobacco companies is diving into the cannabis market with a $2.4 billion buy-in.

Marlboro maker Altria Group Inc. is taking a 45 percent stake in Cronos Group, the Canadian medical and recreational marijuana provider said Friday.

Altria will pay another $1.4 billion for warrants that if exercised, would give the Altria a 55 percent ownership stake in the Toronto company.

That would mean Altria’s investment would be in the same league as the $4 billion spent earlier this year by Constellation Brands to acquire shares of Canopy Growth Corp., another Canadian pot producer.

[YessirAtsaFact]

1. Marlborojuana brand

[2naSalit]

2. Yet another example of

what makes capitalism suck so fucking bad. It ruins everything.

[manor321]

3. So Cheech or Chong as the new Marlboro Man?

[regnaD kciN]

9. For the first time, I'm sorry cigarette ads got pulled from television...

Too few people today remember the Marlboro Man spots; thus, we'll be deprived of the torrent of parodies that this would have engendered fifty years ago.

[JuJuYoshida]

4. Yeah, I don't think I'll be buying Marlboro greens

Gimme the sticky good stuff in a jar from my local dispensary!

[safeinOhio]

5. Too easy to grow.

I wouldn’t bet the farm on it.

[SHRED]

7. Exactly

[underpants]

6. Damn. Earlier report said $1.8B

https://www.democraticunderground.com/100211522577

[pecosbob]

8. Monsanto (Bayer, the company that brought you Zyklon-B) has been buying up all the seed stocks

Gee...I wonder what they might do if they controlled all the seed stocks? Round-up pre-rolls...

[kurtcagle]

10. Re:

I thought this was pretty much inevitable. Remember that the tobacco industry is largely a reflection of its largest growers, and Marlboro is one of the biggest. That industry originally saw cannabis as a potential competitor, but with worldwide tobacco sales down and US sales cratering, I wouldn't be at all surprised if there was a fair amount of lobbying money to not fight pot legalization, and they want to be in a position to cut off potential competitors early when its still inexpensive to do so.