Altria buys NJOY for $2.75B in new bet on e-cigarette market

Altria Group on Monday announced it would acquire startup NJOY Holdings for about $2.75 billion in cash in a new bet by Marlboro makers in the e-cigarette market after losing billions on its investment in Juul. With global smoking rates declining, major tobacco companies are investing heavily in alternatives to traditional cigarettes, but the e-cigarette […]

Altria buying vape maker NJOY for $2.75B

Georgia Republican Rep. Buddy Carter has reportedly rolled out a $30 million grant program to distribute “smoking kits” to poor communities in the name of racial equality, to prevent harm. He argues that cutting back is “not the way to handle” the drug problem. Altria is purchase Wholly owned privately owned NJOY globally to control […]