Corp 1000

British American Tobacco takes minority position in German cannabis distributor Sanity Group

British American Tobacco said Monday it invested an undisclosed sum for a non-controlling minority stake in German cannabis company Sanity Group GmbH. The cigarette maker said the investment in Sanity Group complements its research and development deal with Canada’s Organigram Holdings Inc. announced in 2021. “Investing in Sanity Group is another example of BAT’s ongoing work to explore numerous areas beyond nicotine…for future portfolio growth across a range of categories and geographies,” said Kingsley Wheaton, chief growth officer at British American Tobacco. U.S.-listed shares of British American Tobacco are down 3.2% in 2022, compared to a 23.4% year-to-date drop by the S&P 500 .

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Previous post Oil futures close at their lowest since January
Next post Personal Lessons Learned Since The 2008 – 2009 Global Financial Crisis