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]
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]
Vector Group and New Valley's headquarters are in Miami, Florida[2] and they have an additional office in New York, New York.[20]
