Altria Makes Minority Investment In Avail Vapor

Altria Makes Minority Investment In Avail Vapor

December 06, 2017

Tobacco giant Altria Group Inc., the manufacturer of iQOS has invested in a Virginia based chain that has grown to become the largest U.S. retailer of electronic cigarettes.

Altria recently made a minority investment in Avail Vapor LLC, an executive for Altria said Thursday at a meeting of industry analysts and investors hosted by the company in Richmond.

The investment in Avail comes as Altria, parent company of the nation’s largest cigarette maker, Philip Morris USA, looks to also become the market leader in a wave of novel nicotine-delivery products that the company wants to market as less risky to health than conventional cigarettes.

Avail Vapor, founded in 2013, has opened 102 stores in 12 states specializing in high-end types of electronic cigarettes.

Click here to read more at Richmond Times-Dispatch

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