A 145-year-old tobacco company is looking to cash in on the demand for CBD by processing industrial hemp. Partnering with the extraction company Criticality, Pyxus International has started processing industrial hemp for CBD extraction purposes. Formerly known as Alliance One International, the company generated $1.85 billion in revenue in 2018. With tobacco sales on the decline, Pyxus is looking to make up revenue by diversifying its portfolio, which includes e-cigarettes and Canadian cannabis. Last year, Criticality has contracts with roughly 50 farmers and is looking to expand that number into the hundreds.

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