• May 21, 2024

Altria buys Nat Sherman

 Altria buys Nat Sherman

Altria Group has acquired the privately held Sherman Group Holdings and its subsidiaries (Nat Sherman). Nat Sherman sells super-premium cigarettes and premium cigars, and joins Philip Morris USA and John Middleton Co. as part of Altria’s smokeable products segment. Terms of the transaction were not disclosed.

“Nat Sherman has a terrific brand portfolio which complements Altria’s existing smokeable product segment,” said Marty Barrington, Altria’s chairman, CEO and president. “Nat Sherman will benefit from the retail distribution, brand management, and adult tobacco consumer engagement expertise of Altria’s companies.”

“We welcome Nat Sherman and its talented employees to the Altria family of companies and look forward to swiftly executing our plans,” Barrington added.

Nat Sherman was founded in 1930 as a family-owned and operated business. Nat Sherman cigarettes are manufactured in Greensboro, North Carolina and are currently in limited distribution throughout the U.S. The company also operates a flagship store in New York City.

“We are excited to have our family’s business join the Altria family of companies,” said Nat Sherman’s executive vice president, Bill Sherman. “We believe Altria will be a great steward of the Sherman company and its brands.”