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Updated: 23-Sep-25 06:01 ET

MO: Altria enters MOU with KT&G to pursue long-term adjacent growth (63.79)

Altria Group announces that we have entered into a non-binding Global Collaboration Memorandum of Understanding (the MOU) with KT&G Corporation (KT&G), a top-tier global tobacco and consumer products company, to use the companies' complementary strengths and offerings in the joint pursuit of long-term growth opportunities with modern oral nicotine products, non-nicotine products and operating efficiency in traditional tobacco.
- The MOU aligns with Altria's pursuit of its long-term adjacent growth goals in international innovative smoke-free products and non-nicotine products that we announced in March 2023.
Altria and KT&G will explore opportunities to collaborate and, when appropriate, contribute their respective resources and capabilities to expand the global demand for nicotine pouch products. These efforts may include the expansion of the on! and on! PLUS product portfolio to select countries, and/or strategic transactions in the modern oral space.
- As an initial step in this exploration, an Altria subsidiary signed a definitive agreement with KT&G whereby, concurrent with KT&G's acquisition of Another Snus Factory Stockholm AB (ASF), a Nordic-based nicotine pouch company, Altria's subsidiary will acquire an ownership interest in ASF. ASF owns the LOOP brand internationally.
An Altria subsidiary and KT&G's subsidiary, Korea Ginseng Corporation (KGC), a leading Korean ginseng company, will jointly explore opportunities in the U.S. with a focus in the growing energy and wellness segment. The exploration will seek ways to apply KGC's product expertise and capabilities alongside our deep consumer insights and established go-to-market infrastructure.