The American Tobacco Company was a tobacco company founded in 1890 by J. B. Duke through a merger between a number of U.S. tobacco manufacturers including Allen and Ginter and Goodwin & Company. The company was one of the original 12 members of the Dow Jones Industrial Average in 1896.
The American Tobacco Company dominated the industry by acquiring the Lucky Strike Company and over 200 other rival firms. Antitrust action begun in 1907 broke the company into several major companies in 1911.
The American Tobacco Company, which started acquiring a wide range of non-tobacco products during the 1970s and 1980s, renamed itself American Brands in 1986, and has since been renamed Fortune Brands. American Tobacco became a subsidiary of American Brands for the next ten years until the company shed its tobacco brands to competitors.
Read more about American Tobacco Company: More Recent History
Famous quotes containing the words american, tobacco and/or company:
“Utility is our national shibboleth: the savior of the American businessman is fact and his uterine half-brother, statistics.”
—Edward Dahlberg (1900–1977)
“Sure smokers have made personal choices. And they pay for those choices every day, whether sitting through an airline flight dying for a smoke, or dying for a smoke in the oncology wing of a hospital. The tobacco companies have not paid nearly enough for the killing.”
—Anna Quindlen (b. 1952)
“It’s given new meaning to me of the scientific term black hole.”
—Don Logan, U.S. businessman, president and chief executive of Time Inc. His response when asked how much his company had spent in the last year to develop Pathfinder, Time Inc.’S site on the World Wide Web. Quoted in New York Times, p. D7 (November 13, 1995)