Closings and delays

Imperial Tobacco selects Greensboro for headquarters of new company

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GREENSBORO, N.C. — Imperial Tobacco Group announced Wednesday that is has chosen Greensboro as the headquarters of the new company it will form after a deal with Lorillard and Reynolds American is complete.

The transaction is subject to approval by the U.S. Federal Trade Commission and the companies’ respective shareholders.

As part of Lorillard’s $27.4 billion sale to Reynolds American, Imperial would take control of Lorillard’s manufacturing, headquarters and research facilities in Greensboro, according to the Winston-Salem Journal.

The acquisition will make Imperial the third largest tobacco company in the United States with a 10 percent share of the cigarette market.

Following consummation of the acquired brands and assets, the new company will be based at Lorillard’s current headquarters, 714 Green Valley Road.

The headquarters will be home to Lorillard employees and a number of Commonwealth-Altadis employees who will relocate from Fort Lauderdale, Fla.

In a statement, Imperial said:

“It makes the most sense to make the headquarters of the new company in Greensboro, in a building we will own outright when the transaction is completed. This wonderful facility is in the heart of tobacco country, near our factories and has the infrastructure to accommodate the enlarged business. We are discussing relocation with our employees in Fort Lauderdale and when we are in a position to give further updates on the transaction, we will.”