Juul

Exclusive: Juul employees upset over possible Altria deal

Illustration of Juul vape in a pack of Marlboro cigarettes.
Illustration:Aïda Amer/Axios

Vaping giant Juul is facing employee resistance to a proposed investment by Altria Group, the maker of Marlboro cigarettes, according to internal messages obtained by Axios.

Why it matters: The deal could value Juul at around $30 billion, and be a big first step toward cigarette sector consolidation.

Marlboro maker Altria in talks to take minority stake in Juul

Someone smoking Juul vape
Photo: Eva Hambach/AFP/Getty Images.

Altria Group, one of the world's largest producers and marketers of tobacco and cigarettes, is reportedly in talks to take a significant minority stake in e-cigarette company Juul, reports CNBC.

The big picture: Though Juul is reconstructing its marketing plan to curb usage among teens, the company still has a majority of the market share in e-cigarettes and is valued at $16 billion. The business for e-cigarettes is expected to rise at an annual growth rate of 17%, higher than 12% in 2017, according to a Wells Fargo analysis of Nielsen data.

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