Altadis S.A. History



Address:
Eloy Gonzalo, 10
28010 Madrid
Spain

Telephone: 34 91 360 90 00
Fax: 34 91 360 91 00

Public Company
Incorporated:1926 as Service d'exploitation industrielle des tabacs and 1945 as Tabacalera Sociedad Anónima, Compañía Gestora del Monopolio de Tabacos y Servicios Anejos
Employees: 21,786
Sales:£6.68 billion (2003)
Stock Exchanges:Madrid Paris
Ticker Symbol:ALT
NAIC:312221 Cigarette Manufacturing; 312229 Other Tobacco Product Manufacturing; 424940 Tobacco and Tobacco Product Merchant Wholesalers

Company Perspectives:

With 20,000 employees and activities in nearly 35 countries, Altadis is a multicultural, internationally-orientated Group, generating more than a third of sales from foreign markets. Underpinned by a solid financial position, Altadis is pursuing a growth strategy based on acquisitions and international expansion in order to reinforce its leadership position and create value for its shareholders and employees.

Key Dates:

1636:
Estanco de Tabaco, the Spanish royal monopoly on tobacco, is established.
1674:
The French tobacco industry is nationalized by Louis XIV.
1791:
The French national tobacco monopoly is abolished during the Revolution.
1810:
The French state tobacco monopoly is re-established by Napoleon.
1825:
The cigarette is invented.
1887:
Management of the Spanish state tobacco monopoly is leased to Arrendataria de Tabacos.
1926:
Service d'Exploitation industrielle des tabacs (SEIT) is established as the government tobacco monopoly in France.
1935:
Production of matches (alumettes) is added to the French tobacco monopoly, which is renamed SEITA
1945:
Tabacalera, Sociedad Anonima, Compañia Gestora del Monopolio de Tabacos y Servicios Anejos is formed, and the Spanish government assumes control of the tobacco monopoly again.
1959:
SEITA's status is adjusted to that of a state-owned industrial/commercial concern.
1960:
The European Economic Community (EEC) eases import strictures on cigarettes and other products among member states.
1962:
SEITA employees are no longer considered civil servants.
1964:
SEITA is given monopoly over tobacco distribution in France.
1970:
SEITA loses monopoly on tobacco cultivation in France.
1971:
Foreign cigarette brands are given free access to French market.
1972:
SEITA loses monopoly on import of EEC-produced matches.
1976:
SEITA loses monopoly on tobacco importation and distribution; warning labels are required on French cigarette packs; cigarette advertising is banned in France.
1986:
Tabacalera is partially privatized when Spain joins the EEC. The company diversifies into food products.
1990:
Nearly all forms of tobacco advertising are banned in Spain.
1994:
After diversifying too quickly, Tabacalera divests most of its food brands; by 1996 the company divests all of its non-tobacco, non-distribution operations.
1995:
Tabacalera buys General Cigar Company.
1995:
SEITA, renamed Seita, is privatized.
1999:
Seita and Tabacalera merge to form Altadis; the company buys a controlling stake in the Cuban cigar monopoly Corporación Habanos and becomes the world leader in cigar production.
2003:
Altadis purchases 80 percent control of the Moroccan state tobacco monopoly.
2004:
Altadis acquires Etinera, the former logistics division of the onetime Italian state tobacco monopoly.

Company History:

Further Reading:

  • "Altadis to Make More Closures," World Tobacco 196, September 2003, p. 10.
  • Apted, Emma, "Altadis Sees Safety in Acquisitions," World Tobacco, March 2001, p. 23.
  • Brown, Jonathan, "Altadis Extends North African Presence," Duty-Free News International, July 1, 2003, p. 9.
  • "Bullish Opening in Pamplona," World Tobacco, May 2002, p. 28.
  • Campo, Silvia, "Altadis to Benefit from Restructuring," World Tobacco, March 2002, p. 26.
  • Campo, Silvia, "One Factory Replaces Three," World Tobacco, July 2002, p. 35.
  • "Cashing in on Africa's Smokers," Asia Africa Intelligence Wire, June 13, 2003.
  • Crawford, Leslie, "The Tobacco Group where Everything Rolls out Two-by-Two," Financial Times, December 21, 2000, p. 28.
  • "Cuban Cigar Production Drops as World Demand Slumps," Cuba News, November 2000, p. 3.
  • Du Bois, Peter C., "A U.K. Analyst is Bullish on Spain," Barron's, July 3, 1989, p. 36.
  • Fitere, Anne-Laurence, "Riche, Vieille, et Jolie," L'Expansion, January 6, 1994, p. 82.
  • Fortson, Danny, "Altadis Smokes Rivals in Morocco Auction," Daily Deal, June 3, 2003, n.p.
  • Haggman, Matthew, "Cigar Giant Fights Counterfeit Smokes," Miami Daily Business Review 78, no. 47, August 15, 2003, p. A1.
  • Iskander, Samer, "Altadis to Buy Back 5% of Its Shares," Financial Times, December 6, 1999, p. 26.
  • Kaupp, Katia D., "Chique et Choc Chez S.E.I.T.A.," Le Nouvel Observateur, April 1984, p. 65.
  • "Merger between SEITA and Tabacalera Cleared," European Report, December 8, 1999.
  • Mulligan, Mark, "Altadis Profits Hit by Slower French Sales," Financial Times, September 1, 2004, p. 24.
  • Phalon, Richard, "Smoke Rings," Forbes, August 28, 1995, p. 92.
  • "Prête pour une Guerre des Prix," La Vie Française, May 24, 1997, p. 29.
  • "Rich Raise Count of Montecristos," Sunday Business (London), November 26, 2000, p. C7.
  • Ridgway, Laurence, "Altadis Shares Down on Acquisition News," World Tobacco, July 2003, p. 8.
  • Rigsby, G.G., "Job Cuts Planned in Hav-A-Tampa Merger," Business Journal (Tampa, Fla.), June 23, 2000, p. 3.
  • "RJR Nabisco Buys Full Stake in Spain's Royal Brands," Reuter Business Report, May 9, 1994.
  • Routier, Airy, "Seita: Cap sur la Distribution," L'Expansion, December 21, 1989, p. 70.
  • Schwimmer, Anne, "Spanish Issues Expected," Pensions & Investments, October 28, 1991, p. 38.
  • "Seita: Profil," Fusions et Acquisitions, April 1996, p. 4.
  • Selva, Meera, "Spanish Tobacco Firm Favourite to Gain Cigarette Maker," Sunday Business (London), September 22, 2002.
  • Simpson, David, "Gauloises: To Oxford and the Middle East," Tobacco Control, June 2001, p. 92.
  • "Smoke in Your Eyes," Economist, October 9, 1999, p. 83.
  • "Spain: A Striking Protest," World Tobacco, November 2003, p. 5.
  • "Tabac: une Taxe Speciale Seita," Le Nouvel Observateur, December 4, 1997, p. 92.
  • "Tabacalera, Selling Stakes in Food Firms, Focuses on Tobacco," Wall Street Journal, September 20, 1996, p. B5C.
  • Torres Mulas, R. & D. Hortas, Tabacalera: 350 Años Despues, Madrid: Tabacalera, 1987.
  • "Ups and Downs in Euroland's Cigarettes," Tobacco Europe, March-April 2002, p. 6.
  • Welling, Kathryn M., "Ahead of the Herd," Barron's, February 13, 1995, p. 22.
  • Wherry, Rob, "Merger Mentality," Forbes Global, April 14, 2003, p. 946.
  • White, David, "Tobacco Partners in Cuban Cigar Deal," Financial Times, December 10, 1999, p. 29.

Source: International Directory of Company Histories, Vol.72. St. James Press, 2005.

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