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Article: R.J. Reynolds Takes Over New Mexico Tobacco Firm with Few Changes.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- January 13, 2003
CopyrightCOPYRIGHT 2003 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Brian Louis, Winston-Salem Journal, N.C. Knight Ridder/Tribune Business News
Jan. 13--When one company buys another, upheaval and change typically follow.
Workers are laid off to cut costs. The new management starts to tinker with how business gets done. The name of the company often disappears.
None of that happened when R.J. Reynolds Tobacco Holdings Inc. of Winston-Salem bought Santa Fe Natural Tobacco Co. last January for $340 million in cash.
"We minimized changes from the get-go," said Richard M. Sanders, the chief executive of Santa Fe, who used to work at Reynolds.
In fact, Reynolds Holdings has gone out of its ...