The tobacco company Altria has reached an agreement for the acquisition of Toronto based Cronos Group Inc. The agreement says that the company has the right to the nomination of four directors. According to the Chairman and CEO Investing in the Cronos Group is an exciting and new opportunity for global expansions. It is part of the management strategy that they keep themselves abreast of the situation and how the company can manage acquisitions for global expansions.
The management & other stakeholders believe that the Group’s excellent management team has capabilities to compete globally. It will also reveal the excellent growth potential that is associated with the Altria Group. The company’s official said that the pact also includes the warrant for the acquisition of an additional interest in the Cronos Group. The Chairman/CEO of Cronos highly believes that Altria is the ideal partner for the acquisition to take place and a powerful company. They also believe that the company has adequate resources for meaningful strategic growth. Strategic growth holds huge importance in the corporate sector and is vitally important. According to the management, the company Altria shares the dynamic vision for the driving of long term value that is achieved through innovation. Furthermore, the company also looks forward to the global strategy development as vision sharing is not enough for possible growth.
The financial performances lately of Altria Group just need huge
applause and there is also acknowledgment for the company to move into a
completely new dimension. This is what we are exactly talking about is the
Cannabis market.
The Cronos Group is also a globally diversified Cannabis company and amazingly the company has a presence that is scattered over five continents. The company also operates a brand portfolio that includes Peace Naturals i.e. a pharmacy brand and two re-creational brands that are COVE and SPINACH.
Author: MBE Digital Media
Courtesy: MBE Blog
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