History of Philip Morris Companies, Inc:
Philip Morris is best known as a manufacturer and marketer of cigarettes. It’s a leading international tobacco company operating in 180 countries worldwide. Philip Morris is the largest cigarette company in the United States, with a 42% share of the 70 billion business and 16% in the international cigarette market. In 1919, Philip Morris and Company, Ltd. would list among its assets continental Tobacco, by then a manufacturer of English-style cigarettes, including Marlboro, Dunhill, English Ovals, and others. At this time, Philip Morris also imported other brands into the United States and maintained a marketing arrangement for private label brands with Stephano Brothers. The company gradually began to grow. in 1954, the company repositioned Marlboro by adopting the cowboy as its symbol. The new symbol, Marlboro began a steady march to become by 1980, the best-selling cigarette in the world.
In 1984 Hamish Maxwell became the chairman and CEO of Phillip Morris, Inc. His plan was to diversify the company by forming Phillip Morris Companies, Inc. which would become a holding company that would oversee all sister companies, which would make the organization more flexible and would simplify the company’s finances.
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Philip Morris(USA) | | Philip Morris international | | Miller Brewing company | | General foods corporation | | Kraft | | Philip Morris Credit |
The CEO of Philip Morris began to involved acquisition in the food industry. The company’s acquisition initial financed of the general food by drawing on the company’s revolving credit facility. All financing was undertaken at the holding company level. However, the Philip Morris Company was trying to refinance debt funds raised to carry out a large acquisition which was buying Kraft Company. CEO of the company is trying to decide to...