British American Tobacco announced Monday that it has acquired a non-controlling minority stake in the Berlin-based marijuana startup Sanity Group GmbH.
Kingsley Wheaton, the chief growth officer at BAT, characterized the deal as an example of the company’s “ongoing work to explore numerous areas beyond nicotine, positioning BAT for future portfolio growth across a range of categories and geographies.”
“We continue to transform our business, through better understanding of our current and future consumers, as part of our A Better Tomorrow purpose,” Wheaton said in a press release.
The acquisition could also be seen as a reflection of an emerging
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