- Altria Group
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▪ American companyAmerican holding company founded in 1985, the owner of several major American companies, notably Philip Morris Inc., the General Foods Corporation, and Kraft, Inc., with diversified interests in tobacco and food products. Its headquarters are in New York City.The ancestor of the present company was incorporated in 1919 as Philip Morris & Company, Ltd. Inc., acquiring the assets of a small New York corporation of the same name. Throughout the 1930s, '40s, and '50s it expanded its interests in tobacco processing and marketing and became a principal maker of cigarettes (cigarette). In the mid 1950s Philip Morris began using cowboy imagery to advertise its Marlboro brand of cigarettes, and Marlboro's ever-growing popularity propelled the company to second place among American cigarette makers by the mid 1970s. By the early 1990s, despite diversifications, the company continued to receive almost one-half of its revenues from the sale of tobacco products. Its other major cigarette brands sold in the United States and abroad included Benson and Hedges, Parliament, Virginia Slims, and Merit.Philip Morris obtained in 1970 a controlling interest in the Miller Brewing Company, which it held until it sold the business in 2002 to South African Breweries PLC (SAB) (see also MillerCoors). In 1978 Philip Morris acquired the international cigarette business of the Liggett Group Inc. (formerly Liggett & Myers) and the Seven-Up Company, a soft-drink maker; unable to expand its soft-drink market, it sold Seven-Up in 1986. In order to reduce its dependence on the faltering tobacco market, the company in 1985 bought the General Foods Corporation, carrier of such well-known food brands as Maxwell House coffee and Birds Eye frozen foods. In 1988 Philip Morris acquired Kraft, Inc. (Kraft Foods Inc.), a large maker of cheeses and grocery products. Philip Morris thus became one of the world's largest corporate producers of consumer goods. In January 2003 the company changed its name to Altria Group; its tobacco-related businesses retained the Philip Morris name.
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Universalium. 2010.
