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Article: R.J. Reynolds completes purchase of Santa Fe Natural Tobacco
- Article from:
- AP Worldstream
- Article date:
- January 16, 2002
CopyrightProvided by ProQuest LLC. (Hide copyright information)
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00-00-0000
Dateline: WINSTON-SALEM, North Carolina
R.J. Reynolds Tobacco Holdings Inc. completed its purchase of boutique
cigarette maker Santa Fe Natural Tobacco Co. for dlrs 340 million
in cash.
RJR, the second-largest U.S. tobacco company, plans to operate privately
held Santa Fe Natural as a wholly owned subsidiary. The announcement
was made Wednesday.
RJR chairman and chief executive Andrew Schindler has said he wants
to gradually expand the market for Santa Fe Natural's additive-free
American Spirit cigarettes.
Schindler appointed Richard Sanders as president and CEO of Santa
Fe, replacing current CEO Robin Sommers, who will remain with the
company through the transition. ...