Cigarette maker Altria Group Inc. agreed to buy Green Smoke Inc. for about $110 million in cash, adding to a growing trend of big tobacco firms jumping into the e-cigarette market. Green Smoke has operations in the United States and Israel and has sold e-cigarette products since 2009. Its revenue last year was about $40 million, a fraction of Altria’s $24.5 billion. Altria’s stock, however, fell as investors raise concerns over unknowns in the e-cigarette industry and whether Altria’s investment capital could be put to better uses. Full story for BostonGlobe.com subscribers.
This is a summary. To read the whole story subscribe to BostonGlobe.com
© Copyright 2014 Globe Newspaper Company.
Get the full story with unlimited access to BostonGlobe.com. Just 99¢ for 4 weeks.