- Business
- Altria Group, Inc. holds company manufactures and sells cigarettes, smokeless tobacco products, oral nicotine pouches, machine-made cigars, pipe tobacco, and electronic nicotine delivery systems primarily in the United States through subsidiaries including Philip Morris USA, which produces Marlboro cigarettes; U.S. Smokeless Tobacco Company, maker of Copenhagen and Skoal; John Middleton, producer of Black & Mild cigars; Helix Innovations, maker of on! oral nicotine pouches; and NJOY, provider of ACE and DAILY e-vapor products that have received FDA marketing authorizations. The company, founded in 1919 and headquartered in Richmond, Virginia, operates as a leading player in the U.S. tobacco industry with a smoke-free product portfolio aimed at adult nicotine consumers seeking reduced-risk alternatives; it also maintains equity investments in Anheuser-Busch InBev and Cronos Group, and a majority-owned joint venture with JT Group called Horizon Innovations for heated tobacco products. Recent developments include entry into a non-binding global collaboration memorandum of understanding with KT&G Corporation to pursue long-term growth opportunities in nicotine products; announcement of an expanded $1 billion share repurchase program in 2025, bringing total authorization to $2 billion through 2026; narrowed full-year 2025 earnings guidance following third-quarter results; and proceeds from a 2024 partial sale of its Anheuser-Busch InBev stake totaling $2.35 billion to support capital returns.