Altria invests $2.75B in rival startup NJOY after Juul exit

KIFI

Published March 6, 2023 6:39 AM

By MICHELLE CHAPMAN
AP Business Writer

Days after exiting its stake in troubled electronic cigarette maker Juul Labs, Altria announced a $2.75 billion investment in electronic cigarette startup NJOY Holdings Inc. As part of the deal, tobacco company Altria Group Inc., which makes Marlboro cigarettes, will have full global ownership of NJOY’s e-vapor product portfolio, including pod-based e-vapor product NJOY ACE.

Article Topic Follows: AP National Business

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