Philip Morris Announces Completion of Lacta Acquisition.RYE BROOK, N.Y.--(BUSINESS WIRE)--July 1, 1996--Philip Morris announced today that its Brazilian affiliate has completed its acquisition of the controlling interest controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail in Brazil's leading chocolate company, Industrias de Chocolate Lacta S.A. ("Lacta"). The closing took place in Sao Paulo in June 28. Philip Morris already owned 40% of Lacta's shares and the controlling interest was acquired from companies owned by the Adhemar de Barros family. "We are very excited about the prospects of this acquisition since Brazil, alone, represents more than half of the total chocolate consumption in Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. ," said Peter Schreer, president of Philip Morris International's Latin America region. "The addition of Lacta to our existing portfolio of Suchard (sugar candy) and Kibon (ice cream) products will make us the largest confectionery company in Brazil and a major player in Latin America," he added. Philip Morris operates in Brazil through Kraft Suchard Brasil S.A. and Philip Morris Marketing, S.A. Kraft Suchard Brasil participates in the food market and is represented by the Kibon Division, which is the leading manufacturer of ice cream, and by the Suchard Division, which manufactures powdered beverages, chewing gum chewing gum, confection consisting usually of chicle, flavorings, and corn syrup and sugar (or artificial sweeteners). Prehistoric people are believed to have chewed resins. and sugar confectionery with brands such as Tang, Ping Pong (1) A half-duplex communications method in which data are transmitted in one direction and acknowledgment is returned at the same speed in the other. The line is alternately switched from transmit to receive in each direction. Contrast with asymmetric modem. , Sugus and Confeti. Philip Morris Marketing participates in the cigarette market with brands such as Marlboro, L&M and Dallas. Established in Brazil since 1973, Philip Morris' subsidiaries in Brazil had sales in 1995 exceeding US$1.5 billion, and currently has over 10,000 employees. Lacta, established in 1912, is Brazil's leading chocolate company and its key brands are among the most valuable and widely recognized in Brazil. The company manufactures and sells such brands as Sonho de Valsa, Bis, Laka, Diamente Negro and Ouro Branco Ouro Branco is a municipality located in the center of the Brazilian state of Minas Gerais. Its population is 35,000 (2005).[1]. References 1. ^ IBGE - [1] . In 1995, Lacta had gross sales Gross Sales A measure of overall sales that isn't adjusted for customer discounts or returns, calculated simply by adding all sales invoices, and not including operating expenses, cost of goods sold, payment of taxes, or any other charge. revenues in excess of US$400 million and had more than a 30% share of the Brazilian chocolate market. The company has approximately 4,000 employees. Philip Morris Companies, Inc. is the world's largest producer and marketer of consumer packaged goods, with 1995 revenues of more than $64 billion. Philip Morris conducts its business around the world through six principal operating companies: Kraft Foods, Inc.; Kraft Foods International; Miller Brewing Company Miller Brewing Company is the second largest American beermaker and is based in Milwaukee. It is owned by SABMiller. Miller owns breweries in Albany, Georgia; Chippewa Falls, Wisconsin; Eden, North Carolina; Fort Worth, Texas; Irwindale, California; Milwaukee, Wisconsin and ; Philip Morris International Philip Morris International, (PMI) based in Lausanne, Switzerland, held a 15.5% share of the international cigarette market in 2005. Its brands, led by Marlboro and L&M, are sold in over 160 countries around the world. Inc.; Philip Morris U.S.A. and Philip Morris Capital Corporation. CONTACT: Philip Morris International Inc. Elizabeth Cho, 914/335-9221 |
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