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Altria

Altria Group
Company nameAltria Group, Inc.
Company typePublic S&P 500 Component
IndustryTobacco
Founded1985
Founder(s)Philip Morris, Kraft Foods, Nabisco Holdings Corporation
HeadquartersHenrico County, VA, US
Area servedWorldwide
Key peopleMichael E. Szymanczyk
(Chairman) & (CEO)
ProductsTobacco & Wine
Revenue(+) US$23.6 Billion (FY 2009)
Operating income(+) US$4.86 Billion (FY 2009)
Net income(+) US$3.21 Billion (FY 2009)
Total assets(+) US$36.7 Billion (FY 2009)
Total equity(+) US$4.07 Billion (FY 2009)
Employees10,400 - March 2009

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Altria Group, Inc. (NYSE - MO) (previously named Philip Morris Companies Inc.) is based in Henrico County, Virginia, and is the parent company of Philip Morris USA, John Middleton, Inc., U.S. Smokeless Tobacco Company, Inc., Philip Morris Capital Corporation, and Chateau Ste. Michelle Wine Estates. It is one of the world's largest tobacco corporations. Philip Morris International was spun off in 2008. In addition, Altria Group, Inc. has a 28.7% economic and voting interest in one of the world's largest brewing companies, UK based SABMiller plc, where it has 3 seats on the 11-person board of directors. It is a component of the S&P 500 and was a component of the Dow Jones Industrial Average until February 19, 2008. The company has its headquarters in an unincorporated area within Henrico County, less than five miles west of the city limits of Richmond and less than ten miles from its downtown Richmond buildings.

On January 27, 2003, Philip Morris Companies Inc. changed its name to Altria Group, Inc. On March 30, 2007, a spin out of Kraft Foods subsidiary (publicly traded since 2001) was concluded through distribution of the remaining stake of shares (88.1%) to Altria shareholders. As a result, Altria no longer holds any interest in Kraft Foods. On March 28, 2008, a similar spin out of Philip Morris International was completed with 100% of shares being distributed to Altria shareholders.

On January 6, 2009, Altria Group, Inc. completed the acquisition of UST Inc., a moist smokeless tobacco manufacturer; UST owned Ste Michelle Wine Estates, a wine company.


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