Altria Group has entered into a comprehensive Memorandum of Understanding (MOU) with KT&G, a leading South Korean tobacco manufacturer, to pursue long-term adjacent growth opportunities. This strategic collaboration will span both nicotine and non-nicotine spaces.
A key initiative under the MOU is the planned joint acquisition of 'Another Snus Factory (ASF)', a Scandinavian nicotine pouch manufacturer. This move aims to expand Altria's presence in the rapidly growing global nicotine pouch market.
The partnership also includes leveraging KT&G's global distribution network to market ASF's 'LOOP' products alongside Altria's 'on!' nicotine pouches. Additionally, the companies will explore optimizing their traditional cigarette businesses, diversifying portfolios, and collaborating in the U.S. health functional foods market, utilizing KGC's product expertise and Altria's established infrastructure.
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