RICHMOND, Va. – The privately held Sherman Group Holdings, which includes the Nat Sherman lines of superpremium cigarettes and premium cigars, is now under the umbrella of Altria Group, in a purchase announced this morning.
Terms of the transaction were not disclosed.
New York-based Nat Sherman will join Philip Morris USA and John Middleton Co. as part of Altria’s “smokeable products segment,” Richmond, Va.-based Altria said.
“Nat Sherman has a terrific brand portfolio which complements Altria’s existing smokeable product segment,” said Marty Barrington, chairman, CEO and president of Altria. “Nat Sherman will benefit from the retail distribution, brand management and adult tobacco consumer engagement expertise of Altria’s companies.”
Nat Sherman was founded in 1930 as a family-owned and -operated business. Nat Sherman cigarettes are manufactured in Greensboro, N.C., and are in limited distribution throughout the United States. The company also operates a flagship store in New York.
“We are excited to have our family’s business join the Altria family of companies,” said Bill Sherman, executive vice president of Nat Sherman. “We believe Altria will be a great steward of the Sherman company and its brands.”
Watch for details on CSP Daily News.