Cronos Group
Toronto, CanadaFounded 2012
About Cronos Group
Cronos Group is a Toronto-headquartered cannabis company backed by tobacco giant Altria Group, which invested CAD $2.4 billion for a 45% stake. The company focuses on innovative cannabinoid research and product development, with operations in Canada and Israel.
Key Facts
- 1Altria Group, maker of Marlboro cigarettes, invested CAD $2.4 billion for a 45% stake in 2019
- 2Invested in Ginkgo Bioworks partnership for fermentation-based cannabinoid production
- 3Operates through subsidiary Peace Naturals, one of the first licensed producers in Canada
- 4Holds strategic cannabis operations in Israel through Cronos Israel
Frequently Asked Questions
Why did Altria invest in Cronos?
Altria, the tobacco giant behind Marlboro, invested in Cronos to gain a foothold in the cannabis industry as a potential growth avenue given declining cigarette sales. The deal gave Cronos significant capital for R&D and expansion.
What is Cronos doing with biosynthesis?
Cronos partnered with Ginkgo Bioworks to develop fermentation-based production of rare cannabinoids, aiming to produce cannabinoids more efficiently than traditional cultivation methods.
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CRON Stock
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Products
- Spinach flower and vapes
- PEACE NATURALS medical
- Lord Jones CBD
Specialties
Cannabinoid research and innovationStrategic tobacco-industry partnershipPremium brand developmentFermentation-based cannabinoid production
Company Details
- Location
- Toronto, Canada
- Founded
- 2012
- Publicly Traded
- Yes
- Ticker
- NASDAQ:CRON
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