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Brits pay $1.9 billion for Commonwealth
Jump to full article: Louisville (KY) Courier-Journal, 2007-02-09
Author: From Staff and Wire Dispatches
Intro: Britain's Imperial Tobacco Group is buying Commonwealth Brands of Bowling Green, Ky., the maker of USA Gold and Sonoma discount cigarettes, from Houchens Industries for $1.9 billion.
Commonwealth Brands is the fourth-largest cigarette producer in the United States, with annual sales of 14 billion cigarettes making up an estimated 3.7 percent of the $376 billion U.S. market.
The cigarette maker's headquarters, which has about 45 employees, will remain in Bowling Green, and Imperial announced that Commonwealth's management would be kept. The company's manufacturing plant is in Reidsville, N.C.
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