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RJR Nabisco: Difference between revisions

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| defunct = {{End date and age|1999|df=y}}
| location = {{ubl|[[Winston-Salem, North Carolina]]|[[Cobb County, Georgia]]|[[Midtown Manhattan]], [[New York City]]}}
| slogan =
| key_people =
| num_employees =
| industry = {{ubl|[[Food processing]]|[[tobacco industry|tobacco]]}}
| products = [[Cookie]]s, [[Cracker (food)|crackers]], [[cigarette]]s
| revenue =
| net_income =
| parent = [[R.J. Reynolds]]
| homepage = {{URL|https://web.archive.org/web/*/http://www.rjrnabisco.com|www.rjrnabisco.com}} (archived)
}}
 
'''R. J. Reynolds Nabisco, Inc.''', [[Trade name|doing business as]] '''RJR Nabisco''', iswas a defunctan American [[Conglomerate (company)|conglomerate]], selling [[Tobacco products|tobacco]] and [[food products]], headquartered in the [[Calyon Building]]<!--1301 Avenue of the Americas--> in [[Midtown Manhattan, New York City]].<ref>"[https://web.archive.org/web/19990202223718/http://www.rjrnabisco.com/annual97/info.htm Investor Information 1997 Annual Report]." R. J. Reynolds Nabisco. February 2, 1999. Retrieved on December 2, 1999. "Corporate Offices: R. J. Reynolds Nabisco, Inc. 1301 Avenue of the Americas New York, NY 10019"</ref> R. J. Reynolds Nabisco stopped operating as a single entity in 1999; however, both RJR (as [[R. J. Reynolds Tobacco Company]]) and [[Nabisco]] (now part of [[Mondelēz International]]) still exist.
 
== History ==
[[File:Credi- Lyonnais-building.jpg|thumb|[[Calyon Building]], former site of the RJR Nabisco headquarters]]
 
RJR Nabisco was formed in 1985 by the merger of [[Nabisco|Nabisco Brands]] and [[R.J. Reynolds Tobacco Company]].<ref>Bozman, Jean S. "Nabisco seeking DBMS to enhance connectivity." ''[[Computerworld]]''. [[IDG Enterprise]], May 18, 1987. Vol. 21, No. 20. [https://books.google.com/books?id=3KBPxFKTY6kC&pg=PA89 89]. Retrieved from [[Google Books]] on September 6, 2011. "ISSN 0010-4841"</ref>
In 1988 RJR Nabisco was purchased by [[Kohlberg Kravis Roberts & Co.]] in what was at the time the largest [[leveraged buyout]] in history.
In 1999, due to concerns about [[tobacco lawsuit]] liabilities, the tobacco business was spun off into a separate company and RJR Nabisco was renamed [[Nabisco Holdings Corporation]]. Nabisco is currently owned by [[Mondelēz International|Mondelēz International Inc]].
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As a result of the acquisition, RJR Nabisco divested the following divisions:
* Nabisco's UK operations (including [[The Smith's Snackfood Company|Smith's]] and [[Walkers (snack foods)|Walkers]]), Belin of France, and Saiwa of Italy were sold to [[Groupe Danone|BSN]].<ref>{{Cite news | title = 5 RJR Units Sold for $2.5 Billion - NYTimes.com | work = The New York Times | date = 7 June 1989 | access-date = 2015-02-09 | url = https://www.nytimes.com/1989/06/07/business/5-rjr-units-sold-for-2.5-billion.html | last1 = Greenhouse | first1 = Steven }}</ref> Smith's and Walkers were swiftly resold to [[PepsiCo]].<ref>{{Cite news | title = Pepsico, to Aid Europe Sales, Buys 2 British Snack Units - NYTimes.com | work = The New York Times | date = 4 July 1989 | access-date = 2015-02-09 | url = https://www.nytimes.com/1989/07/04/business/pepsico-to-aid-europe-sales-buys-2-british-snack-units.html | last1 = McGill | first1 = Douglas C. }}</ref>
* [[Chun King]] was sold to [[Yeo Hiap Seng]].<ref>[http://articles.chicagotribune.com/1989-06-22/business/8902110543_1_chun-king-rjr-nabisco-chow-mein "RJR Sending Chun King To Orient"]. [[Chicago Tribune]], June 22, 1989.</ref>
* Associated Biscuits International (consisting of 38% of India's Britannia and 40% of Pakistan's [[Peek Freans|English Biscuit Manufacturers]]) to [[Britannia Industries]].<ref>{{Cite news |author=<!--Staff writer(s); no by-line.--> |date=July 7, 1989 |title=P.M. BRIEFING : Nabisco Sells India, Pakistan Units |url=https://www.latimes.com/archives/la-xpm-1989-07-07-fi-3554-story.html |work=Los Angeles Times |issn=0458-3035 |access-date=September 2, 2023}}</ref>
* [[Fresh Del Monte Produce]] was sold to [[Polly Peck]].<ref>{{Cite news | issn = 0458-3035 | agency = Associated Press | title = British Conglomerate to Buy Part of Del Monte From RJR | work = Los Angeles Times | access-date = 2015-02-09 | date = 1989-09-08 | url = https://articles.latimes.com/1989-09-08/business/fi-1943_1_del-monte }}</ref>
* [[Del Monte Foods]] was sold to [[Merrill Lynch]], [[Court Square Capital Partners|Citicorp Venture Capital]], and [[Kikkoman]]. Del Monte's Asia operations (outside the Philippines) were separately sold to Kikkoman.<ref>{{Cite news | issn = 0458-3035 | last = La Ganga | first = Maria L. | title = RJR Sells Del Monte Operations for $1.4 Billion : Deal Puts Company Close to Lenders' February, 1990, Debt-Reduction Goal | work = Los Angeles Times | access-date = 2015-02-09 | date = 1989-09-26 | url = https://articles.latimes.com/1989-09-26/business/fi-270_1_del-monte }}</ref>
* The company's 20% stake in [[ESPN Inc.]] was sold to [[Hearst Communications]].<ref>{{Cite news|last=Fabrikant|first=Geraldine|date=1990-11-09|title=Hearst to Buy 20% ESPN Stake From RJR|language=en-US|work=The New York Times|url=https://www.nytimes.com/1990/11/09/business/hearst-to-buy-20-espn-stake-from-rjr.html|access-date=2021-10-22|issn=0362-4331}}</ref><ref>{{Cite web|last=Staff|title=HEARST BUYS 20% OF ESPN|url=https://buffalonews.com/news/hearst-buys-20-of-espn/article_8863254d-4fa5-5029-b120-16ef6ff13cad.html|access-date=2021-10-22|website=The Buffalo News|language=en}}</ref>
Another major consequence of the buyout was that according to [[United States Department of Labor]], in its report "American Workplace", over 2,000 workers subsequently lost their jobs, which 72% eventually replaced, but earning less than half of their previous incomes, suggesting that it took most of those who lost their jobs an average of 5.6 months to find new employment.<ref>{{Cite book|title=U.S. Department of Labor, Office of the American Workplace, Volumes 2-3, Issues 1-5|publisher=United States Department of Labor|year=1994}}</ref>
 
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== Further reading ==
* {{cite book | author1=Burrough, Bryan | author2=Helyar, John | title=Barbarians at the Gate: The Fall of RJR Nabisco | publisher=[[Harper & Row]] | location=New York | year=1990 | isbn=0-06-016172-8 | url-access=registration | url=https://archive.org/details/barbariansatgat000burr }}
 
== External links ==