The American Tobacco Co.'s querulous George Washington Hill made his company famous with a classic slogan that urged women to "reach for a Lucky instead of a sweet." Whichever way they reach from now on, American Tobacco stands to benefit. Last week the nation's second largest cigarette maker (after R.J. Reynolds) moved to acquire Chicago's Consolidated Foods Corp. Consolidated is a vast (1964 sales: $634 million) packer, distributor and retailer of foods whose sweets range from Sara Lee bakery products to Union Sugar and Shasta beverages.
American Tobacco has had a keen taste for just such a company. Earlier last...
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