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The Spokesman-Review Newspaper The Spokesman-Review

Spokane, Washington  Est. May 19, 1883
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Tobacco giant strides into vape market with $13B Juul stake

Altria, one of the world’s biggest tobacco companies in the world, is spending nearly $13 billion to buy a huge stake in the vape company Juul as cigarette use continues to decline. The Marlboro maker said Thursday that it will take a 35 percent stake in Juul putting the value of the company at $38 billion, larger than Ford Motor Co., Delta Air Lines or the retail giant Target.