5 Things You Didn't Know About Philip Morris International
Many U.S. investors see Philip Morris International (NYSE: PM) simply as the global extension of the cigarette business that Altria Group (NYSE: MO) continues to run domestically. Looking at Philip Morris that way belittles the importance of the global tobacco giant, which has a presence in more than 180 markets around the world. There's a lot about Philip Morris that most investors don't know about, and the following five facts play a key part of the long-term investing thesis for the stock.
Long before Philip Morris International had its IPO, the company's namesake stood tall at the beginning of Altria's history. In 1847, tobacconist Philip Morris opened a shop on Bond Street in London, at which he sold loose tobacco as well as pre-made cigarettes. It was Philip's son Leopold who went on to establish Philip Morris & Company in the late 19th century, which formed the foundation of everything that was to come for the tobacco giant over its 170-year history.
Most investors know that Philip Morris has the rights to distribute the Marlboro brand of cigarettes around the globe, and Marlboro continues to hold No. 1 market share worldwide. Those outside the U.S. are more familiar with the other brands that Philip Morris has, some of which are even more popular than Marlboro in certain areas.
Source: Fool.com
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