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{{Short description|American diversified holding company}}
{{about|the publicly traded holding company|the [[electrical engineering]] method of categorizing voltage|Vector group|other topics|vector (disambiguation)}}
{{for|the term in electrical engineering|Vector group}}
{{use mdy dates|date=June 2014}}
{{use mdy dates|date=June 2014}}
{{use American English|date=June 2014}}
{{use American English|date=June 2014}}
{{Infobox company
{{Infobox company
| name = Vector Group Ltd.
| name = Vector Group Ltd.
| logo = [[Image:VectorGroupLogo7.jpg|Vector Group]]
| logo = Vector Group logo.png
| type = [[public company|Public]]
| type = [[Subsidiary]]
| traded_as = {{NYSE|VGR}}<br>[[S&P 600|S&P 600 Component]]<br>[[Russell 2000 Index|Russell 2000 Component]]
| traded_as = {{NYSE was|VGR}}
| ISIN = US92240M1080
<!-- | ISIN = {{ISIN|sl=n|pl=y|US92240M1080}} -->
| genre = [[Holding company]]
| genre = [[Holding company]]
| foundation = {{start date and age|1986|paren=yes}}.<ref name="fairclough">{{cite news|last1=Fairclough|first1=Gordon|title=Liggett's Chief Breaks Rank Again At Tobacco Trial|url=https://www.wsj.com/articles/SB852765774405635000|access-date=27 September 2016|publisher=Wall Street Journal|date=26 June 2000}}</ref>
| foundation = {{start date and age|1986|paren=yes}}.<ref name="fairclough">{{cite news|last1=Fairclough|first1=Gordon|title=Liggett's Chief Breaks Rank Again At Tobacco Trial|url=https://www.wsj.com/articles/SB852765774405635000|access-date=27 September 2016|publisher=Wall Street Journal|date=26 June 2000}}</ref>
| founder = [[Bennett S. LeBow]]
| founder = [[Bennett S. LeBow]]
| location_city = [[Miami]], Florida
| location = [[Miami, Florida]], U.S.
| location_country = United States
| key_people = [[Bennett S. LeBow]] <small>Chairman</small> <br />[[Howard Lorber]] <small>President and Chief Executive Officer</small><br />Richard Lampen <small>Executive Vice President</small><ref name="Bloomberg Markets Quote">{{cite web|title=Vector Group Ltd|url=https://www.bloomberg.com/quote/VGR:US|website=Bloomberg Markets|publisher=Bloomberg.com|access-date=27 September 2016}}</ref><br />J. Bryant Kirkland III <small>Senior Vice President, Chief Financial Officer and Treasurer</small><ref name="Bloomberg Markets Quote" /><br />Marc N. Bell <small>Senior Vice President, General Counsel and Secretary</small><ref name="Bloomberg Markets Quote" /><br />Ronald J. Bernstein <small>President and Chief Executive Officer of Liggett Group LLC and Liggett Vector Brands LLC</small><ref name="Bloomberg Markets Quote" />
| key_people = [[Bennett S. LeBow]] <small>Chairman</small> <br />[[Howard Lorber]] <small>President and Chief Executive Officer</small><br />Richard Lampen <small>Executive Vice President</small><ref name="Bloomberg Markets Quote">{{cite web|title=Vector Group Ltd|url=https://www.bloomberg.com/quote/VGR:US|website=Bloomberg Markets|publisher=Bloomberg.com|access-date=27 September 2016}}</ref><br />J. Bryant Kirkland III <small>Senior Vice President, Chief Financial Officer and Treasurer</small><ref name="Bloomberg Markets Quote" /><br />Marc N. Bell <small>Senior Vice President, General Counsel and Secretary</small><ref name="Bloomberg Markets Quote" /><br />Ronald J. Bernstein <small>President and Chief Executive Officer of Liggett Group LLC and Liggett Vector Brands LLC</small><ref name="Bloomberg Markets Quote" />
| industry = Diversified holding
| industry = Diversified holding
| products = [[Tobacco]], [[real estate]], [[property management]]<ref name="Annual Report">{{cite web|title=Vector Group Ltd. 2016 Stockholders' Report|url=http://www.vectorgroupltd.com/wp-content/uploads/2017/03/Vector-Group-2016-Annual-Report.pdf|website=Vector Group|access-date=23 December 2017}}</ref>
| products = [[Tobacco]], [[real estate]], [[property management]]<ref name="Annual Report">{{cite web|title=Vector Group Ltd. 2016 Stockholders' Report|url=http://www.vectorgroupltd.com/wp-content/uploads/2017/03/Vector-Group-2016-Annual-Report.pdf|website=Vector Group|access-date=23 December 2017}}</ref>
| revenue = $1.87 billion (FY 2018)<ref name=vgltd>{{cite web |url=http://ir.vectorgroupltd.com/news-releases/news-release-details/vector-group-reports-fourth-quarter-and-full-year-2018-financial|title=Vector Group Reports Fourth Quarter and Full Year 2018 Financial Results |publisher=Vector Group|date=February 28, 2019}}</ref>
| revenue = $2.02 billion (FY 2020)<ref name=vgltd>{{cite web |url=http://ir.vectorgroupltd.com/news-releases/news-release-details/vector-group-reports-fourth-quarter-and-full-year-2018-financial|title=Vector Group Reports Fourth Quarter and Full Year 2018 Financial Results |publisher=Vector Group|date=February 28, 2019}}</ref>
| net_income = $58.1 million (FY 2018)<ref name=vgltd/>
| net_income = $92.5 million (FY 2020)<ref name=vgltd/>
| assets = $1.5 billion (FY 2018)<ref name=secannual>{{cite web |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/59440/000005944019000004/a2018-10k.htm|title=ANNUAL REPORT|publisher=SEC|date=December 31, 2018}}</ref>
| assets = $1.34 billion (FY 2020)<ref name=secannual>{{cite web |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/59440/000005944019000004/a2018-10k.htm|title=ANNUAL REPORT|publisher=SEC|date=December 31, 2018}}</ref>
| num_employees = 1,555<ref name=secannual/>
| num_employees = 1,007<ref name=secannual/>
| subsid = [[Liggett Group]] LLC<br />[[New Valley LLC]]<br />[[Vector Tobacco]]<ref name="Annual Report" />
| subsid = [[Liggett Group]] LLC<br />[[New Valley LLC]]<br />[[Vector Tobacco]]<ref name="Annual Report" />
| homepage = {{URL|vectorgroupltd.com}}
| homepage = {{URL|vectorgroupltd.com}}
| footnotes =
| footnotes =
| intl =
| intl =
| parent = [[Japan Tobacco]]
}}
}}


'''Vector Group Ltd.''' is an American diversified holding company with two major businesses: Liggett Group LLC<ref name="Orstein">{{cite news|last1=Ornstein|first1=Charles|title=Top Medical Journal Deflects Criticism of Withholding Data|url=http://www.newsweek.com/medical-journal-deflects-criticism-withholding-data-444328|access-date=27 September 2016|publisher=ProPublica|date=6 April 2016}}</ref> (tobacco) and New Valley LLC (real estate), including Douglas Elliman.<ref name="Clarke">{{cite news|last1=Clarke|first1=Katherine|title=Who really owns NYC's real estate firms?|url=http://therealdeal.com/issues_articles/who-really-owns-nycs-real-estate-firms/|access-date=27 September 2016|publisher=The Real Deal|date=1 February 2013}}</ref>
'''Vector Group Ltd.''' is an American diversified holding company with two major businesses: Liggett Group<ref name="Orstein">{{cite news|last1=Ornstein|first1=Charles|title=Top Medical Journal Deflects Criticism of Withholding Data|url=http://www.newsweek.com/medical-journal-deflects-criticism-withholding-data-444328|access-date=27 September 2016|publisher=ProPublica|date=6 April 2016}}</ref> (tobacco) and New Valley (real estate).<ref name="Clarke">{{cite news|last1=Clarke|first1=Katherine|title=Who really owns NYC's real estate firms?|url=http://therealdeal.com/issues_articles/who-really-owns-nycs-real-estate-firms/|access-date=27 September 2016|publisher=The Real Deal|date=1 February 2013}}</ref>


[[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.<ref name="Bockman">{{cite web|last1=Bockmann|first1=Rich|title=Howard Lorber and the art of brand management|url=http://therealdeal.com/issues_articles/brand-management/|website=The Real Deal|access-date=27 September 2016}}</ref>
[[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.<ref name="Bockman">{{cite web|last1=Bockmann|first1=Rich|title=Howard Lorber and the art of brand management|url=http://therealdeal.com/issues_articles/brand-management/|website=The Real Deal|access-date=27 September 2016}}</ref>


Vector Group was previously called '''Brooke Group'''.<ref>{{cite web |url=https://www.cnn.com/2019/02/21/politics/senate-trump-russia-david-geovanis-intl/index.html |title=Senate investigators pursue Moscow-based former Trump associate |author=Nina dos Santos |date=February 21, 2019 |website=CNN.com |access-date=February 22, 2019}}</ref>
Vector Group was previously called '''Brooke Group'''.<ref>{{cite web |url=https://www.cnn.com/2019/02/21/politics/senate-trump-russia-david-geovanis-intl/index.html |title=Senate investigators pursue Moscow-based former Trump associate |author=Nina dos Santos |date=February 21, 2019 |website=CNN.com |access-date=February 22, 2019}}</ref>

In August 2024, Vector Group agreed to be acquired by [[Japan Tobacco]] (JT Group) to become a wholly owned consolidated [[Subsidiary| subsidiary]] of JT.<ref>{{cite web |title= JT Group to Acquire Vector Group Ltd. |url= https://www.businesswire.com/news/home/20240821063460/en/JT-Group-to-Acquire-Vector-Group-Ltd. |date= August 21, 2024 |publisher=Businesswire}}</ref> The deal was completed in October 2024.<ref>{{cite web |title= JT Group Completes Acquisition of Vector Group Ltd. |url= https://www.businesswire.com/news/home/20241007205251/en/JT-Group-Completes-Acquisition-of-Vector-Group-Ltd. |date=October 10, 2024 |publisher= Businesswire}}</ref>


==Holdings==
==Holdings==
===Subsidiaries===
===Subsidiaries===
[[Liggett Group]] LLC - Founded in 1873, Liggett Group LLC is the fourth-largest cigarette manufacturer in the U.S.<ref name="Hargreaves">{{cite news|last1=Hargreaves|first1=Rupert|title=Here's Why Vector Group is a Great Investment|url=http://www.fool.com/investing/general/2014/03/18/heres-why-vector-group-is-a-great-investment.aspx|access-date=27 September 2016|publisher=Motley Fool|date=18 March 2014}}</ref> 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.<ref name=formk>{{cite web |url=https://www.sec.gov/Archives/edgar/data/59440/000005944019000037/may19invpres.htm|title=FORM 8-K|publisher=SEC|date=May 31, 2019}}</ref> Its core brands include: [[Pyramid (cigarette)|Pyramid]], Grand Prix, [[Liggett Select]], [[Eve (cigarette)|Eve]] and Eagle 20's.<ref name="Vanderford">{{cite web|last1=Vanderford|first1=Greg|title=Invest In Vector Group For The Highest Yield In The Tobacco Industry|url=http://seekingalpha.com/article/3604476-invest-vector-group-highest-yield-tobacco-industry|website=Seeking Alpha|publisher=Seeking Alpha|access-date=26 October 2015}}</ref> Vector Tobacco Inc. is engaged in the manufacture of conventional cigarettes, based in North Carolina.
Founded in 1873, [[Liggett Group]] is the fourth-largest cigarette manufacturer in the U.S.<ref name="Hargreaves">{{cite news|last1=Hargreaves|first1=Rupert|title=Here's Why Vector Group is a Great Investment|url=http://www.fool.com/investing/general/2014/03/18/heres-why-vector-group-is-a-great-investment.aspx|access-date=27 September 2016|publisher=Motley Fool|date=18 March 2014}}</ref> 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.<ref name=formk>{{cite web |url=https://www.sec.gov/Archives/edgar/data/59440/000005944019000037/may19invpres.htm|title=FORM 8-K|publisher=SEC|date=May 31, 2019}}</ref> Its core brands include: Pyramid, Grand Prix, [[Liggett Select]], [[Eve (cigarette)|Eve]], Eagle 20's, and Montego.<ref>{{cite news |last1=Maloney |first1=Jennifer |last2=Harring |first2=Alex |title=Cheaper Beer, Cigarettes Gain Favor as Inflation Pinches Shoppers |url=https://www.wsj.com/articles/cheaper-beer-cigarettes-gain-favor-as-inflation-pinches-shoppers-11658655001 |access-date=21 January 2024 |date=24 July 2022}}</ref><ref name="Vanderford">{{cite web|last1=Vanderford|first1=Greg|title=Invest In Vector Group For The Highest Yield In The Tobacco Industry|url=http://seekingalpha.com/article/3604476-invest-vector-group-highest-yield-tobacco-industry|website=Seeking Alpha|publisher=Seeking Alpha|access-date=26 October 2015}}</ref> Vector Tobacco is engaged in the manufacture of conventional cigarettes, based in North Carolina.


[[New Valley LLC]] - New Valley LLC (formerly known as Western Union)<ref name="Strom">{{cite news|last1=Strom|first1=Stephanie|title=New Valley, Old Management|url=https://www.nytimes.com/1994/10/09/business/new-valley-old-management.html|access-date=27 September 2016|work=New York Times|date=9 October 1994}}</ref> 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.<ref name=formk/>
[[New Valley LLC]] (formerly known as Western Union)<ref name="Strom">{{cite news|last1=Strom|first1=Stephanie|title=New Valley, Old Management|url=https://www.nytimes.com/1994/10/09/business/new-valley-old-management.html|access-date=27 September 2016|work=New York Times|date=9 October 1994}}</ref> 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.<ref name=formk/>


New Valley owns 100 percent<ref name="Bockman, Rich">{{cite news|last1=Bockman|first1=Rich|title=Douglas Elliman to market condos at HFZ's High Line project|url=http://therealdeal.com/2015/08/18/douglas-elliman-to-market-condos-at-hfzs-high-line-project/|access-date=27 September 2016|publisher=The Real Deal|date=18 August 2015}}</ref> of [[Douglas Elliman]] Realty, LLC, the largest residential real estate brokerage firm in the New York metropolitan area and fourth-largest residential brokerage firm in the U.S.'''<ref name="Clarke 2">{{cite news|last1=Clarke|first1=Katherine|title=Compass wants investors to believe it's worth $1.3B|url=http://therealdeal.com/2016/07/12/compass-wants-investors-to-believe-its-worth-1-3b/|access-date=27 September 2016|publisher=The Real Deal|date=12 July 2016}}</ref>
New Valley previously owned 100 percent<ref name="Bockman, Rich">{{cite news|last1=Bockman|first1=Rich|title=Douglas Elliman to market condos at HFZ's High Line project|url=http://therealdeal.com/2015/08/18/douglas-elliman-to-market-condos-at-hfzs-high-line-project/|access-date=27 September 2016|publisher=The Real Deal|date=18 August 2015}}</ref> 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.<ref name="Clarke 2">{{cite news|last1=Clarke|first1=Katherine|title=Compass wants investors to believe it's worth $1.3B|url=http://therealdeal.com/2016/07/12/compass-wants-investors-to-believe-its-worth-1-3b/|access-date=27 September 2016|publisher=The Real Deal|date=12 July 2016}}</ref> In December 2021, Vector Group completed the spin-off of Douglas Elliman into a standalone, publicly traded company.<ref>{{cite news |last1=Bojnansky |first1=Erik |title=Vector Group completes Douglas Elliman spinoff |url=https://www.bizjournals.com/southflorida/news/2021/12/31/douglas-elliman-ticker.html |access-date=21 January 2024 |work=www.bizjournals.com |date=31 December 2021}}</ref>

===Other investments===
Vector Group also owns a portions of [[Ladenburg Thalmann]] Financial Services Inc. and of [[Castle Brands]] Inc.'''<ref>{{cite web |url=https://ir.stockpr.com/ladenburg/all-sec-filings/content/0001493152-19-006191/0001493152-19-006191.pdf|title=LADENBURG THALMANN FINANCIAL SERVICES INC. |publisher=SEC|date=December 31, 2019}}</ref><ref>{{cite web |url=http://investor.castlebrandsinc.com/static-files/ecf8487e-744e-4b39-93e5-6341f7fbf9ce|title=CASTLE BRANDS INC.|publisher=SEC|date=December 31, 2019}}</ref>


==Office locations==
==Office locations==
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}}
}}
{{Vector Group|state=collapsed}}
{{Vector Group|state=collapsed}}

{{Authority control}}


[[Category:Holding companies of the United States]]
[[Category:Holding companies of the United States]]
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[[Category:American companies established in 1999]]
[[Category:American companies established in 1999]]
[[Category:Holding companies established in 1999]]
[[Category:Holding companies established in 1999]]
[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Companies formerly listed on the New York Stock Exchange]]
[[Category:2024 mergers and acquisitions]]

Latest revision as of 13:48, 16 October 2024

For the term in electrical engineering, see Vector group.

Vector Group Ltd.
Company typeSubsidiary
NYSE: VGR
IndustryDiversified holding
GenreHolding company
Founded1986 (39 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

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

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

[edit]

Subsidiaries

[edit]

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

[edit]

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

[edit]

References

[edit]
  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.
[edit]
  • vectorgroupltd.com, the company's official website
  • Business data for Vector Group Ltd.:
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