Altria to Acquire E-Cigarette Startup NJOY for $2.8 Billion Following Juul’s Departure

On Monday, Altria Group Inc announced that it will acquire e-cigarette startup NJOY Holdings Inc for approximately $2.75 billion in cash.

This move represents Altria’s latest attempt to tap into the rapidly expanding e-cigarette market, following significant financial losses resulting from its investment in Juul.

Amidst thousands of lawsuits and rumors of impending bankruptcy, the tobacco giant has traded its investment in Juul for some of the vaping company’s heated tobacco intellectual property, Reuters reported.

"Altria to buy e-cigarette startup NJOY for $2.8 billion after Juul exit"
READ MORE: https://finance.yahoo.com/news/altria-buy-startup-njoy-2-121051808.html

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