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Altria stock boosted by news of acquisition of nicotine pouch business On!

Altria Group Inc. shares rose Monday after the tobacco giant said it has reached a deal with privately held Swiss company Burger Sohne Holding AG that will give it an 80% stake in a nicotine pouch business.

Altria MO, +1.81% will pay $372 million for the stake that will allow it to commercialize the oral tobacco-derived nicotine (TDN) pouch product On! around the world.

Nicotine pouches are a new form of oral tobacco product that are similar to Snus, a powder tobacco product originating from a form of dry snuff that was popular in early 18th-century Sweden.

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