Wikipedia

Vector Group

(Redirected from Vector Tobacco)
For the term in electrical engineering, see Vector group.

Vector Group Ltd. is an American diversified holding company with two major businesses: Liggett Group[6] (tobacco) and New Valley (real estate).[7]

Vector Group Ltd.
Company typeSubsidiary
NYSE: VGR
IndustryDiversified holding
GenreHolding company
Founded1986 (38 years ago) (1986).[1]
FounderBennett S. LeBow
HeadquartersMiami, Florida, U.S.
Key people
Bennett S. LeBow Chairman
Howard Lorber President and Chief Executive Officer
Richard Lampen Executive Vice President[2]
J. Bryant Kirkland III Senior Vice President, Chief Financial Officer and Treasurer[2]
Marc N. Bell Senior Vice President, General Counsel and Secretary[2]
Ronald J. Bernstein President and Chief Executive Officer of Liggett Group LLC and Liggett Vector Brands LLC[2]
ProductsTobacco, real estate, property management[3]
Revenue$2.02 billion (FY 2020)[4]
$92.5 million (FY 2020)[4]
Total assets$1.34 billion (FY 2020)[5]
Number of employees
1,007[5]
ParentJapan Tobacco
SubsidiariesLiggett Group LLC
New Valley LLC
Vector Tobacco[3]
Websitevectorgroupltd.com

Bennett S. LeBow founded Vector Group in 1986. Since then, he has served as Chairman. Howard Lorber has served as the Company's President and Chief Executive Officer since 1994.[8]

Vector Group was previously called Brooke Group.[9]

In August 2024, Vector Group agreed to be acquired by Japan Tobacco (JT Group) to become a wholly owned consolidated subsidiary of JT.[10] The deal was completed in October 2024.[11]

Holdings

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Subsidiaries

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Founded in 1873, Liggett Group is the fourth-largest cigarette manufacturer in the U.S.[12] Liggett operates in the discount cigarette market. As of March 31, 2019, Liggett's family of brands represented a 14% share of the discount market.[13] Its core brands include: Pyramid, Grand Prix, Liggett Select, Eve, Eagle 20's, and Montego.[14][15] Vector Tobacco is engaged in the manufacture of conventional cigarettes, based in North Carolina.

New Valley LLC (formerly known as Western Union)[16] is a diversified real estate company that acquires or invests in real estate properties or projects. It has invested in more than 30 real estate projects as of March 31, 2019.[13]

New Valley previously owned 100 percent[17] of Douglas Elliman, the largest residential real estate brokerage firm in the New York metropolitan area and fourth-largest residential brokerage firm in the U.S.[18] In December 2021, Vector Group completed the spin-off of Douglas Elliman into a standalone, publicly traded company.[19]

Office locations

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Vector Group and New Valley's headquarters are in Miami, Florida[3] and they have an additional office in New York, New York.[20]

See also

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References

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  1. ^ Fairclough, Gordon (June 26, 2000). "Liggett's Chief Breaks Rank Again At Tobacco Trial". Wall Street Journal. Retrieved September 27, 2016.
  2. ^ a b c d "Vector Group Ltd". Bloomberg Markets. Bloomberg.com. Retrieved September 27, 2016.
  3. ^ a b c "Vector Group Ltd. 2016 Stockholders' Report" (PDF). Vector Group. Retrieved December 23, 2017.
  4. ^ a b "Vector Group Reports Fourth Quarter and Full Year 2018 Financial Results". Vector Group. February 28, 2019.
  5. ^ a b "ANNUAL REPORT". SEC. December 31, 2018.
  6. ^ Ornstein, Charles (April 6, 2016). "Top Medical Journal Deflects Criticism of Withholding Data". ProPublica. Retrieved September 27, 2016.
  7. ^ Clarke, Katherine (February 1, 2013). "Who really owns NYC's real estate firms?". The Real Deal. Retrieved September 27, 2016.
  8. ^ Bockmann, Rich. "Howard Lorber and the art of brand management". The Real Deal. Retrieved September 27, 2016.
  9. ^ Nina dos Santos (February 21, 2019). "Senate investigators pursue Moscow-based former Trump associate". CNN.com. Retrieved February 22, 2019.
  10. ^ "JT Group to Acquire Vector Group Ltd". Businesswire. August 21, 2024.
  11. ^ "JT Group Completes Acquisition of Vector Group Ltd". Businesswire. October 10, 2024.
  12. ^ Hargreaves, Rupert (March 18, 2014). "Here's Why Vector Group is a Great Investment". Motley Fool. Retrieved September 27, 2016.
  13. ^ a b "FORM 8-K". SEC. May 31, 2019.
  14. ^ Maloney, Jennifer; Harring, Alex (July 24, 2022). "Cheaper Beer, Cigarettes Gain Favor as Inflation Pinches Shoppers". Retrieved January 21, 2024.
  15. ^ Vanderford, Greg. "Invest In Vector Group For The Highest Yield In The Tobacco Industry". Seeking Alpha. Seeking Alpha. Retrieved October 26, 2015.
  16. ^ Strom, Stephanie (October 9, 1994). "New Valley, Old Management". New York Times. Retrieved September 27, 2016.
  17. ^ Bockman, Rich (August 18, 2015). "Douglas Elliman to market condos at HFZ's High Line project". The Real Deal. Retrieved September 27, 2016.
  18. ^ Clarke, Katherine (July 12, 2016). "Compass wants investors to believe it's worth $1.3B". The Real Deal. Retrieved September 27, 2016.
  19. ^ Bojnansky, Erik (December 31, 2021). "Vector Group completes Douglas Elliman spinoff". www.bizjournals.com. Retrieved January 21, 2024.
  20. ^ "Offices in New York City". Douglas Elliman. Retrieved September 27, 2016.
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  • vectorgroupltd.com, the company's official website
  • Business data for Vector Group Ltd.:
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