Altria Rumoured to Be Interested in Juul Stake But Is a Little Late to the Table
Altria is in talks to acquire a "significant minority" stake in U.S. vaping startup Juul Labs, according to a report in The Wall Street Journal. We are not at all surprised by this development, but we have reservations over the timing of the deal and potential valuation. We are retaining our $64 fair value estimate for Altria until any deal is announced.Despite its wide moats, which relate to brand equity in the cigarette business, Big Tobacco has lost the battle in the U.S. vaping category to ...
Altria Group is a holding company. The company's subsidiaries include: Philip Morris USA Inc., which is engaged in the manufacture and sale of cigarettes; John Middleton Co., which is engaged in the manufacture and sale of machine-made cigars and pipe tobacco; Sherman Group Holdings, LLC and its subsidiaries, which are engaged in the manufacture and sale of cigarettes and the sale of cigars; and UST LLC, which through its subsidiaries, including U.S. Smokeless Tobacco Company LLC and Ste. Michelle Wine Estates Ltd., is engaged in the manufacture and sale of smokeless tobacco products and wine. The products of the company's tobacco subsidiaries include smokeable tobacco products and machine-made cigars.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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