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:
“I’m not an American hero. I’m a person that loves children.”
—Clara Mcbride Hale (1905–1992)
“There’s nothing quite like tobacco: it’s the passion of decent folk, and whoever lives without tobacco doesn’t deserve to live.”
—Molière [Jean Baptiste Poquelin] (1622–1673)
“Is not disease the rule of existence? There is not a lily pad floating on the river but has been riddled by insects. Almost every shrub and tree has its gall, oftentimes esteemed its chief ornament and hardly to be distinguished from the fruit. If misery loves company, misery has company enough. Now, at midsummer, find me a perfect leaf or fruit.”
—Henry David Thoreau (1817–1862)