Mergers: Sold, American

Having launched 20 new cigarette brands since he became president of the American Tobacco Co. in 1963, Robert Barney Walker has become known some what extravagantly as "Brand-a-Month Barney." While American has been concentrating chiefly on smokes, the rest of the industry has been on a merger spree, picking up products ranging from Chun King (Reynolds) to Clark Gum (Philip Morris). Now American is beginning to catch up with the trend, which began with the health scares of the late 50s, to ward profitable acquisitions as a hedge against poor cigarette sales...

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