Featured image: Internationalhighlife/The Weedist
Marlboro easily has a claim to being the world’s most popular cigarette brand, and it’s looking to beat its competition to the budding cannabis market.
According to a BBC report released today Altria (the maker of Marlboro cigarettes), has been in discussions with Canada’s Cronos Group to coordinate a potential investment in the company. Both companies are playing their cards close to their chest, with Cronos issuing this statement:
“It is engaged in discussions concerning a potential investment by Altria Group Inc. in Cronos Group. No agreement has been reached with respect to any such transaction and there can be no assurance such discussions will lead to an investment or other transaction involving the companies.”
With the international spotlight on cannabis following Canada’s successful nationwide legalisation, many companies are looking to get in on the action – companies which had previously lobbied against the legalisation of cannabis.
Take Constellation Brands for instance, the owner of Corona beer. The company is looking to make the largest investment in the industry to date by pouring $4bn into Canopy Growth, Canada’s top cannabis producer.
This revelation comes weeks after rumors emerged that Coca-Cola was in talks with Aurora Cannabis (another Canadian producer) to create a cannabis-infused beverage.
Companies clearly see the value in cannabis, but we’re interested to know how the average cannabis user feels about this. Cannabis culture is strong and vibrant, and users will most likely push back against this type of corporate investment.
As more countries legalize cannabis the battle for bud is only going to intensify. We’re intrigued as to how it’s going to play out and which players are going to emerge as the big winners.