Mergers: The Brothers Move On

Two of the world's most famous beards are about to get a sprucing up, and the Smith Brothers can stand it.

Though the cough-drop business prospered under the founder's bearded sons, William ("Trade") and Andrew ("Mark"), Smith Brothers in recent years has lagged far behind such aggressive drops as Vicks and Luden's.

In business for 117 years, the firm operated out of a half-century-old factory in Poughkeepsie, N.Y., never spent much on advertising, only recently tested TV for the first time and has stuck tenaciously to its one product. Though the firm name...

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