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Morris Group history
Morris Group company history timeline
Many of the company's biggest orders in the fall of 1945 were left to grow stale on retail racks, and net income plummeted just as Morris was attempting to float a new bond issue at the end of the year.
A massive 1948 advertising campaign claiming that English Blend did not cause "cigarette hangover," a previously unknown disorder, led to a fresh gain in market share and profit.
1960: George Weissman--credited for making Morris the leading exporter of tobacco products in the United States--is named director of international operations.
In 1970 Philip Morris purchased the then seventh-ranked United States brewer, Miller Brewing, and Marlboro was beginning to take hold, registering yearly gains.
By 1973, it was the second most popular cigarette brand in the United States and accounted for roughly two-thirds of Morris's tobacco business.
In 1976 Marlboro sales totalled 94 billion cigarettes, passing R.J. Reynold's Winston as the most popular United States cigarette brand.
Miller was then only the seventh-largest brewer in the United States, but the combination of a repositioned High Life beer and the introduction of the United States' first low-calorie beer, Miller Lite, brought the company all the way up to number two by 1980.
Indeed, 60 percent of Morris's total profit for 1987 was generated by Marlboro's popularity both at home and abroad.
In 1987, for example, two years after the General Foods purchase, Morris's total revenue had reached $27.7 billion and its operating income $4.1 billion.
1988: Morris continues to diversify its holdings and purchases Kraft Inc. for $12.9 billion.
Morris also expanded its holdings overseas, buying Jacobs Suchard, a Swiss maker of coffee and chocolate for $4.1 billion in 1990; four years later it purchased confectionery companies in Russia and the Ukraine, as well as making inroads into the Chinese market through several joint ventures.
1990: Jacobs Suchard, a Swiss maker of coffee and chocolate, is acquired.
martin, jonathan. "philip morris companies, inc." international directory of company histories. detroit: st. james press, 1992.
In April of 1993 Philip Morris announced it was cutting the price of Marlboros by $.40 a pack.
zinn, laura. "the smoke clears at marlboro." business week, 31 january 1994.
himelstein, linda, laura zinn, maria mallory, john carey, and richard s. dunham. "tobacco does it have a future?" business week, 4 july 1994.
——. "philip morris reassigns blame for its recall." wall street journal, 21 june 1995.
In 1995 it created a new management group to oversee manufacturing and research for its tobacco, food, and beer products worldwide.
With $27 billion in sales by 1995, and more than 2,800 different product offerings, Kraft ranked as the world's second-largest food company.
levin, myron, and tony perry. "museum ditches philip morris as sponsor." los angeles times, 1 may 1996.
Its Marlboro brand secured more than 35 percent of the market, an increase of 2 percentage points from 1996.
Within this conglomeration was Post which, as the third-ranking United States producer of breakfast cereal, instigated a cereal price war in mid-1996.
Despite heavily marketing its "lite" beers to the Baby Boomer market, Miller's 3rd quarter 1996 income fell 1.7 percent and the company responded by cutting operating costs.
Officers: Geoffrey C. Bible, Chmn. & CEO, 59, 1997 base salary $2,812,500; Murray H. Bring, VChmn., Exec.
berkowitz, harry. "tobacco firms jockey for sales as new ad restrictions loom." newsday, 29 january 1998.
"philip morris plans to cut 1,900 jobs in u.s. work force." los angeles times, 26 february 1998.
levin, myron. "smoker group's thick wallet raises questions." los angeles times, 29 march 1998.
carroll, james r. "senate panel would boost cigarette pack cost by $1.10." gannett news service, 1 april 1998.
New marketing efforts included revised Marlboro and Virginia Slims merchandise catalogs and a sweepstakes for trips on the "Marlboro Unlimited," a luxury train scheduled to tour Marlboro country in 1998.
The company expected these programs to generate annual pretax savings of about $160 million, starting in 1999.
In 1999, one out of every six cigarettes sold around the globe was a Morris brand.
The United Press International commented on the strategy in 1999, stating that the moves were "seen as part of the entire tobacco industry's attempts to lessen their legal liabilities.
1999: Morris launches its Web site and admits that smoking can cause lung cancer and other diseases.
Morris secured its number two position in the global food industry in 2000 with the purchase of Nabisco Holdings Corp.
The firm's legal battles seemed to be slowing as well as fewer individual cases were tried during 2000 than in the previous year.
In fact, when the Bush administration took office in 2001, many analysts felt that the litigation and frequent tax increases would lessen under Republican leadership.
2001: Kraft goes public in the second largest IPO to date.
"Philip Morris Companies, Inc. ." Company Profiles for Students. . Retrieved June 21, 2022 from Encyclopedia.com: https://www.encyclopedia.com/economics/economics-magazines/philip-morris-companies-inc
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Morris Group competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| David's Inc | - | $3.3M | 125 | 8 |
| MD Enterprises | - | $284.9K | 5 | 41 |
| Sunbelt Solomon | 1971 | $1.8B | 7,500 | 2 |
| Corbett | 1935 | $1.6M | 30 | 8 |
| State of the Art, Inc. | 1969 | $3.9M | 100 | - |
| PT Holdings Company Inc | 1997 | $27.0M | 50 | 62 |
| A T Ferrell Co | - | $9.3M | 50 | - |
| Ali Group | 1963 | $450.0M | 1,511 | 1 |
| Rockwood Holdings Inc | 2000 | $154.4M | 3,500 | 137 |
| Corona | 1928 | $690,000 | 50 | 3 |
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Morris Group may also be known as or be related to Morris Group, Morris Group Inc, Morris Group Inc. and Morris Group, Inc.