Tag: Nat Sherman

  • Joel Sherman Passes Away

    Joel Sherman Passes Away

    Photo: New Africa

    Joel J. Sherman, former president and CEO of Nat Sherman, passed away Sept. 9 in New Jersey surrounded by his family.

    Born on August 2, 1939, Joel Sherman spent decades shaping and elevating the family business, leaving behind a lasting legacy in the world of premium cigars and fine tobacco.

    At the age of 10, Joel Sherman worked in the original Nat Sherman store on Broadway in New York City. Nat Sherman later relocated to 42nd Street near Grand Central Terminal, where it became a symbol of sophistication and high-quality cigars.

    In 1990, after the passing of his father, Nat Sherman, Joel Sherman returned to lead the family business. Under his leadership, Nat Sherman expanded into a prestigious name in the premium cigar world, developing its own lines of cigars and cigarettes.

    In 2017, Nat Sherman was acquired by Altria Group. Although the iconic Nat Sherman store closed in 2020, the cigar blends live on under the Ferio Tego brand, now led by Michael Herklots, who previously served as the vice president of Nat Sherman International and was a longtime associate to Joel Sherman and his family.

    “Mr. Sherman was an industry icon,” Herklots told the Premium Cigar Association. “He was beloved by everyone who knew him and certainly those who had the good fortune of working for him. His moral and ethical compass was always guiding the business and above all, he led with love.”

    Throughout his career, Joel Sherman received many industry honors and awards, including TMA’s “Giant of the Industry” award in 2014. He served as director of Tobacco Reporter’s parent organization, the Tobacco Merchants Association, and was an active participant in, and board member of, several other industry associations. 

  • Nat Sherman Brands Acquired

    Nat Sherman Brands Acquired

    Nat Sherman
    A new company will bring back select products from the illustrious tobacco seller.

    Michael Herklots and Brendon Scott have purchased various Nat Sherman International brands from Altria, according to a report by Halfwheel. Herklots and Scott are former employees of Nat Sherman International.

    The brands will be sold by a new company, Ferio Tego.

    Altria placed Nat Sherman International for sale in 2019 after announcing its departure from the premium cigar business. The brand was purchased by Altria in 2017.

    The Covid-19 pandemic allegedly derailed an agreement to sell the entire division to an unnamed buyer, and Altria announced it would close Nat Sherman International.

    Herklots and Scott did not bid on the entire Nat Sherman International portfolio because it would have been a conflict of interest; Herklots led the Nat Sherman brand after it was purchased by Altria, and he was helping to sell the brand when it was put up for sale.

    “We closed the business (on) Nov. 15, and once it was closed, I couldn’t sleep thinking that there might be a chance to continue the legacy myself,” said Herklots. “I was heartbroken thinking that the brands I worked so hard to build would be left ‘on file.’ And so I asked for consideration to acquire the brands after we closed.”

    “We are grateful to Altria for working with us to find a path forward for these brands,” said Scott. “I am extremely excited to work with Michael and our manufacturing partners to continue the legacy of these brands built by so many people over many decades. We are eager to bring our products back into the humidors of retailers and consumers.”

    Herklots and Scott hope to have their new cigar line, Ferio Tego, on the market in spring. The two also purchased the rights to Nat Sherman pipe tobacco, but they have no current plans to place pipe tobacco on the market.

  • Nat Sherman to Close Premium Cigar Business

    Nat Sherman to Close Premium Cigar Business

    Nat Sherman
    The Entrance to the historical Nat Sherman Townhouse in Manhattan (Photo: Askoldsb | Dreamstime)

    Nat Sherman will shut down its premium cigar businesses by the end of September.

    The 90-year-old company will close both its wholesale cigar business and the company’s iconic New York City retail location known as the Nat Sherman Townhouse.

    Altria Group, which purchased Nat Sherman in 2017, had wanted to sell the premium cigar business but reached no deal despite initial interest from buyers.

    “We worked hard to successfully transition Nat Sherman International to a new home,” said Jessica Pierucki, general manager and managing director for Nat Sherman. “The Covid-19 pandemic created new challenges that were unfortunately too big to overcome.”

    “Leading what has become Nat Sherman International’s final chapter these last nine years has been the honor of a lifetime,” said Michael Herklots, vice president of Nat Sherman International. “Hopefully, our premium cigars will live on in the humidors of our greatest fans and be appreciated with fond memories for many years to come.”

    Nat Sherman International includes the retail store as well as the wholesale premium cigar and pipe company. The cigarette portfolio is handled by a different Altria division and is not affected by the closure.

  • 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.”