GOODLETTSVILLE, Tenn., Dec. 17, 2010 /PRNewswire/ -- After a search lasting over a year, Commonwealth Brands, Inc., the country's fourth largest tobacco manufacturer will be relocating its corporate office to Goodlettsville in Spring 2011.
The Company has been based in Bowling Green, KY since it was formed in 1991, however, its ever growing employee base has resulted in it outgrowing its current premises.
"After an exhaustive search, which included Bowling Green and other parts of Kentucky, we finally settled on Goodlettsville," stated Jonathan Cox, the Company's CEO. "The city has gone out of its way to welcome us and the investment that we bring and, in the end, it was a decision that we are delighted with."
Commonwealth expects to bring with the move the majority of its 100 staff and already has plans for further expansion and employment opportunities.
"We are excited about the move and are thrilled to be able to make this investment into the Middle Tennessee community, which will include the creation of many new jobs," Cox continued.
Commonwealth was represented by Dick Fleming, a principal with Cushman & Wakefield's alliance firm, Cornerstone Commercial, in their search for new headquarters. Fleming was charged with identifying a buyer to purchase the Goodlettsville building, retrofit it for Commonwealth's needs and establish a long-term relationship with his client as a landlord. Boyle Investment Company was selected as the best choice for the job.
"This was one of the most intriguing assignments of my career. The combination of hard work, a knowledgeable and committed client in Commonwealth, and the creativity and determination of Boyle has made it one of the most rewarding. We are very pleased for the City of Goodlettsville and Metropolitan Nashville who will benefit from the addition of this fine Company."
Boyle Investment Company purchased the 43,000-square-foot building for $2.17M, and helped relocate several tenants in order to accommodate Commonwealth's need for 32,000-square-feet of space. The building will now be occupied by Commonwealth and Region's bank, which is occupying the remainder of the 43,000-square-foot building.
"We are extremely excited to partner with Commonwealth to establish their new headquarters location in the Nashville area," said Thomas McDaniel, Director of Office Properties for Boyle. "We are also very appreciative of Regions' cooperation during this transition, and look forward to what this move means to Nashville and Goodlettsville, with both tenants committed to the building long-term."
Boyle Investment Company will own and manage the building.
Commonwealth Brands is owned by the British firm Imperial Tobacco, one of the world's largest international tobacco companies. Together with its parent Company, Commonwealth has already invested tens of millions of dollars into the U.S. economy since it was purchased by Imperial back in 2007.
A Goodlettsville location will allow the Company to continue its aggressive investment in jobs, people and brands. The Company projects a substantial increase in corporate office jobs across all its key corporate functions following the move.
"Goodlettsville is a great location for us," said John Mercer, the Company's CFO. "It not only offers us improved transport links, but also a significantly enhanced opportunity to recruit talented individuals."
Tom Tucker, Director of Economic & Community Development for the City of Goodlettsville, said, "Goodlettsville is proud to welcome Commonwealth to our city. This is further endorsement that Goodlettsville offers the right combination of features that are attractive to business including large corporations."
Goodlettsville Mayor Gary Manning added, "We are very pleased that Commonwealth is committed to being a good corporate citizen through support of local community organizations."
"Commonwealth Brands, Inc.'s decision to relocate to Goodlettsville reiterates the fact that Middle Tennessee is a place where people and businesses want to be," said Ralph Schulz, president and CEO of the Nashville Area Chamber of Commerce. "Corporate headquarters are one of our top targets for job growth in the region, so Commonwealth's decision to join the growing base of headquarters in the region is a particularly significant one."
Commonwealth already employs 1000 people across the states, including over 250 in its manufacturing facility in Reidsville, NC. Its brands include Sonoma, Davidoff, Fortuna, Rave and USA Gold cigarettes, one of the nation's best selling brands. Commonwealth also manufactures and markets a number of quality rolling tobaccos, including Premier, Rave and McClintock and a full range of rolling papers, including Joker and EZWider.
Commonwealth Brands, Inc. is the fourth largest tobacco manufacturer in the United States. Its cigarettes include Davidoff, Sonoma, Montclair and USA Gold, one of the nation's best selling brands*. Its portfolio of fine tobaccos consists of the Premier, McClintock, Rave and Bali Shag brands. Commonwealth Brands, Inc. is based in Bowling Green, Kentucky, and employs over 900 people across 50 States. The Company is committed to its employees, its brands and its consumers.
*Source: Management Science Associates, Inc
SOURCE Commonwealth Brands, Inc.