On March 28, New York City-based Altria Group split its two cigarette units by giving its shareholders stock in the newly independent Philip Morris International (PMI), reports Business Week.  Altria, which will move its headquarters to Richmond, Virginia, now consists of Philip Morris USA, cigar maker John Middleton Inc., a financial arm, and a 28.6% stake in a British beer maker.

This marks the first time since Philip Morris, Esq., opened a tobacco shop in London in 1847, that the company’s U.S. and international businesses will be separate, according to Business Week.  The split disentangles Philip Morris International from pending and future legal concerns in the U.S.  

Both PM USA and PMI produce Marlboros.  PM USA also makes Virginia Slims, Parliament and Basic cigarettes. PMI makes the L&M, Bond Street and other brands.

PMI will operate in more than 160 countries and, with revenue of $55.1 billion in 2007, is considerably larger than PM USA which recorded revenue of $18.49 billion in 2007.