Reynolds American Inc., owner of Camel cigarettes, is buying its longtime rival Lorillard, maker of Newport cigarettes, for $27.4 billion. Founded in 1760, Lorillard is the oldest tobacco company in the US. Lorillard will cease to exist as of Friday, June 12, 2015.
Newport is the top selling menthol cigarette, and the second best-selling brand in the US. Reynolds will also take over production of blu eCigs, “which accounts for about half of all electronic cigarettes sales in the nation.”