Categories
· Business (Tobacco)
· Smokeless
Organizations
· RJR
· Conwood
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Jump to full article: The Wall Street Journal Interactive Edition, 2006-04-26
Author: MARK MAREMONT and VANESSA O'CONNELL
Intro: Reynolds American Inc. will become the first major cigarette maker in recent years to push into the smokeless-tobacco business, with its agreement to buy closely held snuff and chewing-tobacco company Conwood Co. for $3.5 billion in cash.
The deal will thrust Reynolds, the Winston-Salem, N.C., maker of Camel and Salem cigarettes, into the No. 2 spot in the U.S. smokeless category by market share behind UST Inc. Reynolds is expected to look to expand its Camel cigarette brand by pumping out new smokeless products under that brand name.
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