Tobacco giant Altria Group Inc., looking for growth opportunities in alternatives to conventional cigarettes, has invested in a Chesterfield County-based chain that has grown to become the largest U.S. retailer of vaping devices, commonly referred to as electronic cigarettes.
Henrico County-based Altria recently made a minority investment in Avail Vapor LLC, an executive for Altria said Thursday at a meeting of industry analysts and investors hosted by the company in Richmond.
The investment in Avail comes as Altria, parent company of the nation’s largest cigarette maker, Philip Morris USA, looks to also become the market leader in a wave of novel nicotine-delivery products that the company wants to market as less risky to health than conventional cigarettes.
