Universal Corporation

Universal Corporation (NYSE: UVV) is one of the world's leading tobacco merchants. Incorporated in 1918, Universal is headquarters in Richmond, Virginia, in the United States.

This article is about the tobacco merchant. For the movie production company, see Universal Pictures.

Universal Corporation
NYSE: UVV
S&P 600 Component
Founded1918 
HeadquartersRichmond, Virginia[1]
Websitewww.universalcorp.com 

Current operations

Universal buys, sells, and processes flue-cured and burley tobacco. It also holds a 49% interest in Socotab, LLC, a large dealer in oriental leaf tobaccos. The company does not manufacture cigarettes or other consumer tobacco products, although its largest customer is Altria Group (owner of Philip Morris USA).

Universal common stock is part of the S&P 600 index.

History

After the 1911 breakup of the American Tobacco Company trust, Jacquelin (sic) P. Taylor incorporated Universal out of six formerly independent leaf merchants.

In 2010, Universal along with Alliance One International were accused of violations of the Foreign Corrupt Practices Act of 1977. The company is alleged to have paid US$10,000 to the wife of an official in the Mozambique Ministry of Agriculture to secure favorable tax treatment in that country. In 2010, Universal paid about $10 million in restitution and penalties to settle the charges.

On January 3, 2020 Universal purchased FruitSmart.[2]

References
  1. "Universal". Fortune. Retrieved February 22, 2019.
  2. "Universal Completes Acquisition of FruitSmart". Fidelity Investments. January 3, 2020. Retrieved January 6, 2020.



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