Businesses Managed by Altria Group
Altria Shifts Focus Beyond Traditional Tobacco Products
In a strategic move away from the shrinking cigarette market, Altria Group Inc., a company with roots dating back to 1847 in London, has been making significant investments and acquisitions in related markets.
One of the most notable acquisitions was the purchase of a 35% stake in electronic cigarette company Juul Labs Inc. for $12.8 billion in 2018. However, the acquisition of Juul Labs Inc. was later sold in 2023 for a valuation of $38 billion, following a massive decline in its value and the Federal Trade Commission (FTC) dropping all cases and complaints against Altria. The FTC had initially filed a lawsuit against Altria in 2020, alleging that the company's investment in Juul Labs Inc. violated antitrust laws and that an illegal side deal resulted in Altria pulling its own e-cigarettes from the market just prior to its investment in Juul Labs Inc., eliminating a source of competition.
Altria has also ventured into the vaping market through brands like NJOY, in which it has invested about $16 billion. Despite this significant investment, Altria holds a modest 2% share in traditional retail for e-vapor products, indicating a strategic push into vaping but not necessarily through recent acquisitions.
In addition to vaping, Altria has expanded its portfolio beyond cigarettes into heated tobacco technology through an exclusive licensing agreement to market Philip Morris International's IQOS heated tobacco product in the U.S. since 2019.
The company's focus on diversification is also evident in its acquisition of Cronos Group Inc., a cannabis producer, for a 45% equity stake worth $1.8 billion in 2018. As of the end of 2023, Altria's ownership interest in Cronos Group stood at 41.1%. However, there is no clear record from recent sources of major acquisitions beyond tobacco-related products like vaping or heated tobacco.
Altria's U.S. smokeless tobacco component traces back to 1822, with significant acquisitions such as UST LLC, a smokeless tobacco producer, acquired for $10.4 billion in 2009, and John Middleton Inc., a cigar and pipe tobacco manufacturer, acquired for $2.9 billion in 2007.
The company's subsidiary, Helix Innovations LLC, was formed to act as the parent company of the Burger Group subsidiaries engaged in the production of a flavored nicotine pouch called on!.
As of August 12, 2025, Altria Group Inc. has a market cap of $109.97 billion. Despite its diversification efforts, the marijuana stock prices have fallen tremendously since Altria's acquisition of Cronos Group.
In conclusion, Altria's recent strategic moves beyond traditional cigarettes largely involve investments in vaping technologies and licensing deals for heated tobacco products rather than clear acquisitions in unrelated markets. There is no current public record of Altria making recent acquisitions in markets beyond tobacco-derived products like vaping or heated tobacco.
- Altria Group Inc., originally a London-based company with a history dating back to 1847, is diversifying its portfolio, making significant investments and acquisitions in vaping technologies, heated tobacco products, and cannabis.
- The company's focus on vaping is seen through brands like NJOY, for which they've invested about $16 billion, but their share in traditional retail for e-vapor products is only modest at 2%.
- Altria has also entered into a licensing agreement to market Philip Morris International's IQOS heated tobacco product in the U.S. since 2019.
- Their foray into the cannabis industry is represented by their acquisition of Cronos Group Inc., in which they hold a 41.1% ownership stake as of the end of 2023.
- In the technology sphere, Altria has explored the potential of heated tobacco technology, a move away from traditional tobacco products.
- Despite these diversification efforts, the market cap of Altria Group Inc., as of August 12, 2025, stands at $109.97 billion. However, the decline in marijuana stock prices since their acquisition of Cronos Group indicates a challenging landscape for investing in unrelated markets like food-and-drink or technology.
