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Marlboro maker Altria Group Inc. is eyeing cannabis and e-cigarettes, searching for growth outside its traditional business, as the long decline of U.S. cigarette sales accelerates.

The tobacco giant is in separate talks to make investments in Canadian cannabis company Cronos Group Inc. and in San Francisco e-cigarette startup Juul Labs Inc., according to Cronos and people familiar with the Juul matter. The two companies would give Altria access to new customers and overseas markets, but a deal with either isn’t imminent.