Cronos Group explores interest from third parties

U.S. cigarette and tobacco company Altria Group has 45% stake in the cannabis company.

Cronos Group Inc. says it has received “unsolicited indications of interest” from third parties seeking a potential transaction with the Canadian cannabis company.

Cronos reported it is in the initial stages of reviewing the indications of interest, noting an agreement or transaction may not result from the review.

The company said it doesn’t intend to make further announcements unless it is required to do so by law.

Altria Group, owner of Philip Morris USA, U.S. Smokeless Tobacco Company and John Middleton, acquired a 45% equity stake in Cronos Group in 2019. Cronos Group offers the Spinach, Peace Naturals and Lord Jones cannabis brands.

Alyse Thompson-Richards has held many positions with BNP Media, first serving as an intern at Candy Industry Magazine in summer 2012. She joined Candy Industry's staff full time as associate editor in August 2016 after a few years at newspapers in West-Central Illinois, becoming managing editor in March 2019. Alyse has also served on Cannabis Products Insider since March 2019. She has bachelor’s degrees in journalism and Spanish from Western Illinois University.