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Battle over "American Spirit" - The Beat - acquisition information - Brief Article
New Mexico Business Journal, Jan-Feb, 2002
Two mammoth tobacco companies, R. J. Reynolds and Canada's Rothmans decided they would like to add the American Spirit brand to their cigarette repertoires, and so they called upon the little company Santa Fe Natural, Inc., which is based in Santa Fe, and made their offers Reynolds put $340 million in cash on the table.
Rothmans countered with $162 million in cash and $192 million in bonds and Rothmans stock. Reynolds won. Santa Fe Natural, which claims to make unadulterated cigarettes, was founded in 1982, employs 115 people in New Mexico, 100 in its Oxford, N.C, factory-you didn't think they grew tobacco in New Mexico, did you?-and 10 in a Reno, Nev., distribution center. Reynolds says the company will operate as an independent subsidiary and will continue to be headquartered in Santa Fe.
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