About the Company
Formerly known as Phillip Morris Companies, Inc., Altria Group Inc. is the largest manufacturer, marketer, and distributor of tobacco and related products in the USA. Headquartered in an unincorporated area in Henrico County, Virginia, Altria is a holding company that operates in different countries worldwide. Some of its subsidiaries include Philip Morris USA, the manufacturer of Marlboro cigarettes, Philip Morris Capital Corporation, and Smokeless Tobacco Company, which operates a smokeless tobacco facility covering an area of approximately 41.2 acres. Altria Group, Inc. shares are traded on the New York Stock Exchange (NYSE) under the ticker symbol “MO”.
The operations of MO are divided into the following segments: smokable products, wine, and smokeless products. The wine segment includes one of its most notable subsidiaries, Ste. Michelle Wine Estates. Besides its current headquarters in Vermont, some of its other buildings include Altria Centre for Research and Technology and the manufacturing centre located in South Richmond.
During the 90s, Phillip Morris acquired an interest in Miller Brewing Company. After a few years, a South African Company acquired the business from Philip Morris for approximately $3.6 billion worth of stock and an estimated $2 million in debt. Upon successful completion of the transaction, Philip Morris retained nearly 25% voting rights and 36% ownership share. In 1988, Philip Morris completed the acquisition of Kraft Foods, a leading manufacturer of cheese and grocery products and 12 years later it acquired Nabisco. However, in the early 2000s, Philip Morris changed its name to Altria Group and sold off its interest in Kraft Foods Inc.
Altria Group has acquired more than 5 companies. It mainly targets two sectors, consumer products and food. The company completed its largest acquisition in 1988 when it successfully acquired Mondelez International for approximately $13.1 billion. It has made acquisitions in more than 4 states in the US and 2 different countries. In 2008, MO announced that it would acquire 45% stake in Cronos Group, a leading cannabinoid company for an estimated $1.8 billion. In 2018, Altria Group was included in Forbes America’s Best Employers list for the 4th year in a row. Two years later, it was ranked 67th on the list of Fortune 500 companies.;
|Organisation||Altria Group Inc|