Altria acquires premium cigarette company
Altria Group Inc. announced Tuesday it had acquired a premium tobacco company.
The Richmond-based company has purchased Sherman Group Holdings LLC, a Greensboro, N.C.-based tobacco manufacturer, and its subsidiaries (Nat Sherman).
Nat Sherman sells premium cigarettes and cigars and will join Philip Morris USA and John Middleton Co. as part of Altria’s smokeable products segment. Terms of the transaction were not disclosed.
Nat Sherman was founded in 1930 as a family-owned and operated business. Its cigarettes, which are manufactured in Greensboro, are currently in limited distribution throughout the U.S. The company also operates a flagship store in New York City.