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#849 - Calley Means - Is Our Food Supply Making Us Sick?
Modern Wisdom
From Smoke to Snacks: The Evolution of Corporate Strategy
In the 1980s, major cigarette companies like Philip Morris and R.J. Reynolds, which were among the most valuable in the world, recognized the declining trend of cigarette smoking. As the Surgeon General publicly condemned smoking for the first time, these companies, possessing unprecedented cash reserves, pivoted their strategy towards acquiring food companies. This era witnessed some of the largest mergers and acquisitions in history, highlighting a significant corporate shift. R.J. Reynolds' acquisition of Nabisco and Philip Morris' purchase of Kraft and U.S. Foods exemplify this transformation, leading to the consolidation of numerous widely recognized brands under a few corporate umbrellas. The trend of disaggregation seen today, where major business entities dominate vast arrays of sub-brands, traces its roots back to these strategies in the food sector.
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