Altria (MO) Partners with KT&G on Oral Nicotine and Wellness Products

Altria Group, Inc. (NYSE:MO) ranks among the top picks for a retirement portfolio. Altria Group, Inc. (NYSE:MO) and KT&G Corporation, a South Korean tobacco company, signed a non-binding memorandum of understanding on September 23 to work together on novel oral nicotine products, non-nicotine products, and conventional tobacco operating efficiency.

The agreement includes plans to grow nicotine pouch products across the globe, including the possible extension of Altria’s on! and on! PLUS brands into select nations. In the non-nicotine segment, an Altria Group, Inc. (NYSE:MO) subsidiary and Korea Ginseng Corporation, KT&G’s subsidiary, will look for prospects within the US energy and wellness markets.

The collaboration also includes traditional tobacco products, with both companies looking for methods to improve their operations and increase competitiveness in their own markets. This is consistent with Altria’s adjacent growth targets stated in March 2023 for international smoke-free goods and non-nicotine categories.

Altria Group, Inc. (NYSE:MO) is a prominent American company that produces and markets tobacco, cigarettes, and associated products on a global scale. The firm has also ventured into next-generation nicotine products, such as oral nicotine pouches and electronic vaping devices.

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Disclosure: None. This article is originally published at Insider Monkey.