Marlboro cigarettes owner Altria is in talks to buy a ‘significant minority stake’ in JUUL Labs, according to the Wall Street Journal.
Talks between the two companies have reportedly been ongoing for the past few months, the most recent of which took place after the FDA’s unannounced visit to JUUL Labs HQ in October.
Two of sources claim that backing from key investors would eventually give Altria control of JUUL Labs.
The stake could be a boon for Altria’s reduced-risk strategy.
A JUUL spokesperson declined to comment on the reports.
The brand behind the most popular pod mod in the US, JUUL already has a 76 percent share of the US e-cigarette market.
The news has divided opinion throughout the industry and across social media.
maybe they are trying to reform it from the inside.
— Michele Dauber (@mldauber) November 28, 2018
HUGE loss in credibility from my perspective.. sorry i just dont buy Big Tobacco’s desire to move towards a smoke-free world..
— Cris Delnevo (@CrisDelnevo) November 28, 2018