Imperial Tobacco
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| Type | Public (LSE: IMT) |
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| Founded | 1901 |
| Headquarters | Bristol, England, UK |
| Key people | Iain Napier, Chairman Gareth Davis, CEO |
| Industry | Tobacco |
| Revenue | £20,528 million (2008) |
| Operating income | £1,157 million (2008) |
| Net income | £441 million (2008) |
| Employees | 40,285 (2007) |
| Website | www.imperial-tobacco.com |
Imperial Tobacco Group plc (LSE: IMT) is the world's fourth largest international tobacco company. It is the second largest UK-based tobacco company by global sales. Imperial Tobacco's corporate headquarters are in Bristol, England. The Company is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
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[edit] Senior management
Gareth Davis has been chief executive of Imperial Tobacco since March 1996. His total annual compensation for this role is £1,998,000, which consists of a £939,000 salary and a £1,059,000 bonus.[1]
[edit] History
The Imperial Tobacco Company was created in 1901 through the amalgamation of thirteen British tobacco and cigarette companies comprising W.D. & H.O. Wills of Bristol (the leading manufacturer of the time), John Player & Sons of Nottingham and 11 other independent family businesses, which were being threatened by competition from the United States in the form of James Buchanan Duke and his American Tobacco Company.[2]
First W. D. & H. O. Wills of Bristol merged with Stephen Mitchell & Son of Glasgow. Subsequently other smaller companies including Lambert & Butler, William Clarke & Son, Franklyn Davey, Edwards Ringer, J & F Bell and F & J Smith participated in the amalgamation.
The Company's first Chairman was William Henry Wills of the Wills Company.[2]
In 1902 the Imperial Tobacco Company and the American Tobacco Company agreed to form a joint venture: the British-American Tobacco Company Ltd.[2] The parent companies agreed not to trade in each other's domestic territory and to assign trademarks, export businesses and overseas subsidiaries to the joint venture. American Tobacco sold its share in 1911 but Imperial maintained an interest in British American Tobacco until 1980.[2]
In 1973 the Imperial Tobacco Company, having become increasingly diversified by acquisition of restaurant chains, food services and distribution businesses, changed its name to Imperial Group.[3]
In 1986 the Company was acquired by the conglomerate Hanson Trust plc for £2.5billion.[4] Divestments during the period of ownership by Hanson included Courage Limited to Elders, Golden Wonder to Dalgety, Finlays to A J Patel, the wholesaling arm of Sinclair & Collis to Palmer & Harvey, Imperial Hotels and Catering to Trust House Forte and Ross Frozen Foods to United Biscuits.
In 1996, following a decision to concentrate on core tobacco activities, Hanson de-merged Imperial and it was listed as an independent company on the UK stock exchange.[5]
It became Germany's second largest tobacco company in 2003 following its purchase of Reemtsma Cigarettenfabriken GmbH: the deal added brands such as Davidoff, Peter Stuyvesant and West to its portfolio.[6]
In 2007 Imperial Tobacco entered the United States tobacco market with its $1.9 billion acquisition of Commonwealth Brands Inc, the fourth largest tobacco company in the US.[7]
In February 2008, Imperial acquired European peer Altadis with brands including Fortuna, Gauloises Blondes and Gitanes.[8]
[edit] Operations
The current brands sold by Imperial Tobacco are as follows:
[edit] Tobacco
- All JTI products in Australia - Camel, More, Mild Seven, etc.
- Davidoff
- Embassy
- Escort
- Excellence
- Fortuna
- Gauloises
- Gitanes
- Horizon
- John Player Special (JPS)
- Lambert & Butler - the UK's best selling brand
- Mark Fernyhough cigarettes
- Moon
- Peter Jackson
- Peter Stuyvesant
- Prima
- R1
- Regal
- Richmond
- Route 66
- Superkings
- West
[edit] Other products
- Drum fine cut tobacco
- Van Nelle fine cut tobacco
- Golden Virginia fine cut tobacco
- Rizla rolling paper
- Skruf snuff
[edit] References
- ^ "Gareth Davis: Executive Profile & Biography". BusinessWeek. McGraw-Hill. http://investing.businessweek.com/research/stocks/people/person.asp?personId=397514&ric=IMT.L. Retrieved 2009-08-09.
- ^ a b c d Imperial Tobacco History - Formation
- ^ Imperial Tobacco History - Diversification
- ^ Imperial Tobacco History - The Hanson Years
- ^ Imperial Tobacco History - The Company today
- ^ Imperial buys top German cigarette maker
- ^ Bruce Schreiner, "Houchens expanding at a rapid pace: Company has evolved since Kentucky start", Associated Press, December 24, 2007
- ^ Imperial Tobacco to buy Alterdis for $17bn
[edit] External links
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