Altria Announces Acquisition of Sherman Group Holdings, LLC
January 17 2017 - 9:30AM
Business Wire
Altria Group, Inc. (Altria) (NYSE:MO) today announced that it
has acquired the privately-held Sherman Group Holdings, LLC and its
subsidiaries (Nat Sherman). Nat Sherman sells super-premium
cigarettes and premium cigars, and joins Philip Morris USA Inc. and
John Middleton Co. as part of Altria’s smokeable products segment.
Terms of the transaction were not disclosed.
“Nat Sherman has a terrific brand portfolio which complements
Altria’s existing smokeable product segment,” said Marty
Barrington, Altria’s Chairman, Chief Executive Officer and
President. “Nat Sherman will benefit from the retail distribution,
brand management, and adult tobacco consumer engagement expertise
of Altria’s companies.”
“We welcome Nat Sherman and its talented employees to the Altria
family of companies and look forward to swiftly executing our
plans,” Barrington added.
Nat Sherman was founded in 1930 as a family-owned and operated
business. Nat Sherman cigarettes are manufactured in Greensboro,
North Carolina and are currently in limited distribution throughout
the U.S. The company also operates a flagship store in New York
City.
“We are excited to have our family’s business join the Altria
family of companies,” said Nat Sherman’s Executive Vice President,
Bill Sherman. “We believe Altria will be a great steward of the
Sherman company and its brands.”
Altria’s Profile
Altria’s wholly-owned subsidiaries include Philip Morris USA
Inc., U.S. Smokeless Tobacco Company LLC, John Middleton Co., Nu
Mark LLC, Ste. Michelle Wine Estates Ltd. and Philip Morris Capital
Corporation. Altria holds an equity investment in Anheuser-Busch
InBev.
The brand portfolios of Altria’s tobacco operating companies
include Marlboro®, Black & Mild®,
Copenhagen®, Skoal®, MarkTen® and Green
Smoke®. Ste. Michelle produces and markets premium wines
sold under various labels, including Chateau Ste. Michelle®,
Columbia Crest®, 14 Hands® and Stag’s Leap Wine
Cellars™, and it imports and markets Antinori®,
Champagne Nicolas Feuillatte™, Torres® and Villa
Maria Estate™ products in the United States. Trademarks and
service marks related to Altria referenced in this release are the
property of Altria or its subsidiaries or are used with permission.
More information about Altria is available at altria.com and on the
Altria Investor app.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170117005886/en/
Altria Client ServicesMedia
Relations804-484-8897
Altria (NYSE:MO)
Historical Stock Chart
From Aug 2024 to Sep 2024
Altria (NYSE:MO)
Historical Stock Chart
From Sep 2023 to Sep 2024