Lorillard

Lorillard, Inc.

File:Lorillard Logo.png
Company type	Public
Traded as	NYSE:LO
Industry	Tobacco
Founded	1760
Founder	Pierre Lorillard
Defunct	2015
Fate	Acquired by Reynolds American
Key people	Murray S. Kessler (CEO)
Products	Cigarettes
Revenue	$6.95 billion (2014)
Operating income	$1.78 billion (2014)
Net income	$1.19 billion (2014)
Number of employees	2,900 (2014)

Lorillard, Inc. was an American tobacco company that was founded in 1760 by Pierre Lorillard in New York City. It was the oldest continuously operating tobacco company in the United States until its acquisition by Reynolds American in 2015. Lorillard was known for its flagship brand, Newport, which was the top-selling menthol cigarette in the United States.

History

Lorillard was established in 1760 by Pierre Lorillard, a French immigrant, who began manufacturing snuff in a factory in New York City. The company expanded its product line to include chewing tobacco, cigars, and eventually cigarettes.

In the 19th century, Lorillard became a major player in the tobacco industry, and by the 20th century, it was one of the largest tobacco companies in the United States. The company was known for its innovative marketing strategies and was one of the first to use advertising to promote its products.

In 2014, Lorillard was acquired by Reynolds American, a subsidiary of British American Tobacco, in a deal valued at $27.4 billion. The acquisition was completed in 2015, and Lorillard's operations were integrated into Reynolds American.

Products

Lorillard's most famous product was the Newport brand, which was introduced in 1957. Newport quickly became popular for its menthol flavor and was particularly successful in urban markets. Other brands produced by Lorillard included Kent, True, and Old Gold.

Controversies

Like many tobacco companies, Lorillard faced numerous legal challenges and controversies related to the health effects of smoking. The company was involved in several lawsuits and was part of the Tobacco Master Settlement Agreement in 1998, which required tobacco companies to pay billions of dollars to states to cover healthcare costs related to smoking.

Acquisition by Reynolds American

In 2014, Reynolds American announced its intention to acquire Lorillard. The deal was part of a larger consolidation trend in the tobacco industry, as companies sought to increase their market share and reduce costs. The acquisition was completed in 2015, and Lorillard's brands were integrated into Reynolds American's portfolio.

Legacy

Lorillard's legacy is marked by its long history and its impact on the tobacco industry. The company's innovative marketing strategies and popular brands helped shape the modern tobacco market. Despite its controversies, Lorillard remains a significant part of American tobacco history.

Also see

• Reynolds American
• British American Tobacco
• Tobacco Master Settlement Agreement
• Newport (cigarette)
• Menthol cigarette