Vector Group

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Vector Group Ltd.
Company type
Subsidiary
NYSE: VGR
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GenreHolding company
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HeadquartersMiami, Florida, U.S.
Key people
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  • Bennett S. LeBow (chairman)
  • Howard Lorber (president and CEO)
  • Richard Lampen (Executive Vice President)
  • J. Bryant Kirkland III (Senior Vice President, Chief Financial Officer and Treasurer)
  • Marc N. Bell (Senior Vice President, General Counsel and Secretary)
ProductsTobacco, real estate, property management[1]
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Number of employees
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ParentJapan Tobacco
SubsidiariesLiggett Group LLC
New Valley LLC
Vector Tobacco[1]
Websitevectorgroupltd.com
Footnotes / references
[2]

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Vector Group Ltd. was an American diversified holding company with two major businesses: Liggett Group[6] (tobacco) and New Valley (real estate).[7] In August 2024, Vector Group agreed to be acquired by Japan Tobacco (JT Group) to become a wholly owned consolidated subsidiary of JT.[8] The deal was completed in October 2024.[9]

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.[10] Vector Group was previously called Brooke Group.[11]

Holdings

Subsidiaries

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

Vector Group and New Valley's headquarters are in Miami, Florida[1] and they have an additional office in New York, New York.[20]

See also

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References

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  1. ^ a b c Page Module:Citation/CS1/styles.css has no content."Vector Group Ltd. 2016 Stockholders' Report" (PDF). Vector Group. Retrieved December 23, 2017.
  2. ^ Page Module:Citation/CS1/styles.css has no content."Vector Group Ltd". Bloomberg Markets. Bloomberg.com. Retrieved September 27, 2016.
  3. ^ Page Module:Citation/CS1/styles.css has no content.Fairclough, Gordon (June 26, 2000). "Liggett's Chief Breaks Rank Again At Tobacco Trial". Wall Street Journal. Retrieved September 27, 2016.
  4. ^ a b Page Module:Citation/CS1/styles.css has no content."Vector Group Reports Fourth Quarter and Full Year 2018 Financial Results". Vector Group. February 28, 2019.
  5. ^ a b Page Module:Citation/CS1/styles.css has no content."ANNUAL REPORT". SEC. December 31, 2018.
  6. ^ Page Module:Citation/CS1/styles.css has no content.Ornstein, Charles (April 6, 2016). "Top Medical Journal Deflects Criticism of Withholding Data". ProPublica. Retrieved September 27, 2016.
  7. ^ Page Module:Citation/CS1/styles.css has no content.Clarke, Katherine (February 1, 2013). "Who really owns NYC's real estate firms?". The Real Deal. Retrieved September 27, 2016.
  8. ^ Page Module:Citation/CS1/styles.css has no content."JT Group to Acquire Vector Group Ltd". Businesswire. August 21, 2024.
  9. ^ Page Module:Citation/CS1/styles.css has no content."JT Group Completes Acquisition of Vector Group Ltd". Businesswire. October 10, 2024.
  10. ^ Page Module:Citation/CS1/styles.css has no content.Bockmann, Rich. "Howard Lorber and the art of brand management". The Real Deal. Retrieved September 27, 2016.
  11. ^ Page Module:Citation/CS1/styles.css has no content.Nina dos Santos (February 21, 2019). "Senate investigators pursue Moscow-based former Trump associate". CNN.com. Retrieved February 22, 2019.
  12. ^ Page Module:Citation/CS1/styles.css has no content.Hargreaves, Rupert (March 18, 2014). "Here's Why Vector Group is a Great Investment". Motley Fool. Retrieved September 27, 2016.
  13. ^ a b Page Module:Citation/CS1/styles.css has no content."FORM 8-K". SEC. May 31, 2019.
  14. ^ Page Module:Citation/CS1/styles.css has no content.Maloney, Jennifer; Harring, Alex (July 24, 2022). "Cheaper Beer, Cigarettes Gain Favor as Inflation Pinches Shoppers". Retrieved January 21, 2024.
  15. ^ Page Module:Citation/CS1/styles.css has no content.Vanderford, Greg. "Invest In Vector Group For The Highest Yield In The Tobacco Industry". Seeking Alpha. Retrieved October 26, 2015.
  16. ^ Page Module:Citation/CS1/styles.css has no content.Strom, Stephanie (October 9, 1994). "New Valley, Old Management". New York Times. Retrieved September 27, 2016.
  17. ^ Page Module:Citation/CS1/styles.css has no content.Bockman, Rich (August 18, 2015). "Douglas Elliman to market condos at HFZ's High Line project". The Real Deal. Retrieved September 27, 2016.
  18. ^ Page Module:Citation/CS1/styles.css has no content.Clarke, Katherine (July 12, 2016). "Compass wants investors to believe it's worth $1.3B". The Real Deal. Retrieved September 27, 2016.
  19. ^ Page Module:Citation/CS1/styles.css has no content.Bojnansky, Erik (December 31, 2021). "Vector Group completes Douglas Elliman spinoff". www.bizjournals.com. Retrieved January 21, 2024.
  20. ^ Page Module:Citation/CS1/styles.css has no content."Offices in New York City". Douglas Elliman. Retrieved September 27, 2016.

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