Vector Group
| Company type | Public (until 2024), Subsidiary (since 2024) |
|---|---|
| Industry | Holding company |
| Predecessor | Brooke Group |
| Founded | 1986 |
| Founder | Bennett S. LeBow |
| Fate | Acquired by Japan Tobacco in October 2024 |
| Successor | Japan Tobacco (JT Group) |
| Headquarters | Miami , United States |
Area served | United States |
Key people | Bennett S. LeBow (Chairman), Howard Lorber (President and CEO) |
| Products | Tobacco products (Liggett Group), Real estate investments (New Valley) |
| Owner | Japan Tobacco (JT Group) |
| Parent | Japan Tobacco (JT Group) |
| Website | vectorgroupltd |
Vector Group Ltd. operated as a diversified American holding entity with two main divisions: Liggett Group, specializing in tobacco products, and New Valley, focused on real estate ventures. In August 2024, Vector Group reached an agreement to be purchased by Japan Tobacco (JT Group), subsequently becoming a fully owned consolidated subsidiary of JT. This transaction was finalized in October 2024.
Established in 1986 by Bennett S. LeBow, who has maintained the role of Chairman since the company's founding, Vector Group appointed Howard Lorber as President and CEO in 1994. The company was previously identified as Brooke Group.
Subsidiaries
Liggett Group, founded in 1873, ranks as the fourth-largest cigarette manufacturer in the United States, concentrating on the value-priced cigarette market. As of March 31, 2019, Liggett's brands accounted for a 14% portion of this market segment. Its principal brands include Pyramid, Grand Prix, Liggett Select, Eve, Eagle 20's, and Montego. Vector Tobacco produces traditional cigarettes and is headquartered in North Carolina.
New Valley LLC, formerly known as Western Union, is a multifaceted real estate firm with investments spanning more than 30 projects as of March 31, 2019. The company formerly held full ownership of Douglas Elliman, recognized as the largest residential real estate brokerage within the New York metropolitan region and the fourth-largest nationwide. In December 2021, Vector Group separated Douglas Elliman into an independent publicly traded entity.
Office locations
The headquarters of Vector Group and New Valley are situated in Miami, Florida, complemented by an additional office located in New York City.
See also
External links
- , official corporate website