- Marlboro maker Altria Group Inc. agreed to buy vaping pioneer NJOY Holdings Inc. for at least $2.75 billion.
- Altria has spent tens of billions of dollars over the past decade in an effort to pivot toward less-harmful products as U.S. cigarette smoking declines.
- NJOY has obtained clearance from the FDA to sell its tobacco-flavored e-cigarettes in the U.S.
- Altria said its research showed that once adult smokers and adult e-cigarette users try NJOY’s Ace brand, it performs on par with Vuse Alto, the leading e-cigarette brand.
- Tobacco companies are jockeying for position to grab pieces of the U.S. e-cigarette market as regulators reshape the industry.
Marlboro Maker Ditches Juul and Buys NJOY
Altria agrees to pay at least $2.75 billion for NJOY as it switches vaping strategy
Jennifer Maloney and
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