Holding company of cigarettes and cannabis adapts to market trends while keeping operations highly cash-generative

New York-listed Altria Group is a holding company of multiple wholly-owned large subsidiaries that makes and sells cigarettes (Philip Morris USA), machine-made large cigars and pipe tobacco (John Middleton Co), smokeless tobacco products, and wine (Ste. Michelle). It also holds significant stakes in companies that manufacture oral nicotine pouches (Helix Innovations), e-vapour products (JUUL Labs), and in Cronos Group, which is a global cannabinoid company.

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