M&A Deal Summary

Reynolds American Acquires Lorillard

On July 15, 2014, Reynolds American acquired consumer products company Lorillard for 27.4B USD

Acquisition Highlights
  • This is Reynolds American’s 4th transaction in the Consumer Products sector.
  • This is Reynolds American’s largest (disclosed) transaction.
  • This is Reynolds American’s 4th transaction in the United States.
  • This is Reynolds American’s 3rd transaction in North Carolina.

M&A Deal Summary
Date 2014-07-15
Target Lorillard
Sector Consumer Products
Buyer(s) Reynolds American
Deal Type Add-on Acquisition
Deal Value 27.4B USD
Advisor(s) Centerview Partners
Barclays Investment Bank (Financial)
Simpson Thacher & Bartlett (Legal)

Target

Lorillard

Greensboro, North Carolina, United States
Lorillard, Inc., through its Lorillard Tobacco Company subsidiary, is the third largest manufacturer of cigarettes in the United States. Founded in 1760, Lorillard is the oldest continuously operating tobacco company in the United States. Newport, our flagship premium cigarette brand, is the top selling menthol and second largest selling cigarette brand overall in the United States based on gross units sold in 2011.

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Buyer(S) 1

Buyer

Reynolds American

Winston-Salem, North Carolina, United States
Category Company
Founded 2004
Sector Consumer Products
Employees5,600
Revenue 12.4B USD (2016)
DESCRIPTION
Entrance to Reynolds American's corporate headquarters in Winston-Salem, North Carolina.
Entrance to Reynolds American's corporate headquarters in Winston-Salem, North Carolina.

Reynolds American Inc is a holding company focused on tobacco products. Its principal subsidiaries include the second largest tobacco company in the United States, R. J. Reynolds Tobacco Company; the second largest smokeless tobacco products manufacturer in the United States, American Snuff Company, LLC, referred to as American Snuff Co.; the manufacturer of the leading super-premium cigarette brand, Santa Fe Natural Tobacco Company, Inc., referred to as SFNTC; R. J. Reynolds Vapor Company, referred to as RJR Vapor, a manufacturer and marketer of digital vapor cigarettes in the United States.

DEAL STATS #
Overall 5 of 5
Sector (Consumer Products) 4 of 4
Type (Add-on Acquisition) 5 of 5
State (North Carolina) 3 of 3
Country (United States) 4 of 4
Year (2014) 1 of 1
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-12-02 Niconovum AB

Helsingborg, Sweden

Niconovum markets innovative nicotine replacement therapy (NRT) products under the Zonnic brand name in Sweden and Denmark. Its nicotine gum, mouth spray and pouches use proprietary technology for nicotine delivery.

Buy $44M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-29 Reynolds America - Natural American Spirit international businesses

United States

Reynolds America - Natural American Spirit international businesses is a provider of tobacco products.

Sell $5.0B
Mergr

Product

Company

Legal