Houchens Sells Tobacco Unit

BOWLING GREEN, Ky. -- Houchens Industries here has agreed to sell its Commonwealth Brands cigarette division to Britain's Imperial Tobacco for $1.9 billion.

BOWLING GREEN, Ky. -- Houchens Industries here has agreed to sell its Commonwealth Brands cigarette division to Britain‘s Imperial Tobacco for $1.9 billion. The deal requires government approval and the vote of Houchens employee-owners, Jimmie Gipson, chairman, president and chief executive officer, Houchens, told SN on Friday. Houchens is owned by its workers through an employee stock ownership plan. The diversified company, best known for operating supermarkets and convenie

Register to view the full article