Company:Vector Group

From HandWiki
Short description: American diversified holding company
Vector Group Ltd.
TypePublic
NYSE: VGR
S&P 600 Component
Russell 2000 Component
ISIN[https://handwiki.org/wiki/index.php?title=Toollabs:isin/&language=en&isin=US92240M1080 US92240M1080]
IndustryDiversified holding
GenreHolding company
Founded1986 (38 years ago) (1986).[1]
FounderBennett S. LeBow
Headquarters
Miami, Florida
,
United States
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]
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]

Holdings

Subsidiaries

Founded in 1873, Liggett Group is the fourth-largest cigarette manufacturer in the U.S.[10] 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.[11] Its core brands include: Pyramid, Grand Prix, Liggett Select, Eve, Eagle 20's, and Montego.[12][13] Vector Tobacco is engaged in the manufacture of conventional cigarettes, based in North Carolina.

New Valley LLC (formerly known as Western Union)[14] 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.[11]

New Valley previously owned 100 percent[15] 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.[16] In December 2021, Vector Group completed the spin-off of Douglas Elliman into a standalone, publicly traded company.[17]

Office locations

Vector Group and New Valley's headquarters are in Miami, Florida[3] and they have an additional office in New York, New York.[18]

See also

  • List of Florida companies

References

  1. ↑ Fairclough, Gordon (26 June 2000). "Liggett's Chief Breaks Rank Again At Tobacco Trial". Wall Street Journal. https://www.wsj.com/articles/SB852765774405635000. 
  2. ↑ 2.0 2.1 2.2 2.3 "Vector Group Ltd". Bloomberg.com. https://www.bloomberg.com/quote/VGR:US. 
  3. ↑ 3.0 3.1 3.2 "Vector Group Ltd. 2016 Stockholders' Report". http://www.vectorgroupltd.com/wp-content/uploads/2017/03/Vector-Group-2016-Annual-Report.pdf. 
  4. ↑ 4.0 4.1 "Vector Group Reports Fourth Quarter and Full Year 2018 Financial Results". Vector Group. February 28, 2019. http://ir.vectorgroupltd.com/news-releases/news-release-details/vector-group-reports-fourth-quarter-and-full-year-2018-financial. 
  5. ↑ 5.0 5.1 "ANNUAL REPORT". SEC. December 31, 2018. https://www.sec.gov/ix?doc=/Archives/edgar/data/59440/000005944019000004/a2018-10k.htm. 
  6. ↑ Ornstein, Charles (6 April 2016). "Top Medical Journal Deflects Criticism of Withholding Data". ProPublica. http://www.newsweek.com/medical-journal-deflects-criticism-withholding-data-444328. 
  7. ↑ Clarke, Katherine (1 February 2013). "Who really owns NYC's real estate firms?". The Real Deal. http://therealdeal.com/issues_articles/who-really-owns-nycs-real-estate-firms/. 
  8. ↑ Bockmann, Rich. "Howard Lorber and the art of brand management". http://therealdeal.com/issues_articles/brand-management/. 
  9. ↑ Nina dos Santos (February 21, 2019). "Senate investigators pursue Moscow-based former Trump associate". https://www.cnn.com/2019/02/21/politics/senate-trump-russia-david-geovanis-intl/index.html. 
  10. ↑ Hargreaves, Rupert (18 March 2014). "Here's Why Vector Group is a Great Investment". Motley Fool. http://www.fool.com/investing/general/2014/03/18/heres-why-vector-group-is-a-great-investment.aspx. 
  11. ↑ 11.0 11.1 "FORM 8-K". SEC. May 31, 2019. https://www.sec.gov/Archives/edgar/data/59440/000005944019000037/may19invpres.htm. 
  12. ↑ Maloney, Jennifer; Harring, Alex (24 July 2022). "Cheaper Beer, Cigarettes Gain Favor as Inflation Pinches Shoppers". https://www.wsj.com/articles/cheaper-beer-cigarettes-gain-favor-as-inflation-pinches-shoppers-11658655001. 
  13. ↑ Vanderford, Greg. "Invest In Vector Group For The Highest Yield In The Tobacco Industry". Seeking Alpha. http://seekingalpha.com/article/3604476-invest-vector-group-highest-yield-tobacco-industry. 
  14. ↑ Strom, Stephanie (9 October 1994). "New Valley, Old Management". New York Times. https://www.nytimes.com/1994/10/09/business/new-valley-old-management.html. 
  15. ↑ Bockman, Rich (18 August 2015). "Douglas Elliman to market condos at HFZ's High Line project". The Real Deal. http://therealdeal.com/2015/08/18/douglas-elliman-to-market-condos-at-hfzs-high-line-project/. 
  16. ↑ Clarke, Katherine (12 July 2016). "Compass wants investors to believe it's worth $1.3B". The Real Deal. http://therealdeal.com/2016/07/12/compass-wants-investors-to-believe-its-worth-1-3b/. 
  17. ↑ Bojnansky, Erik (31 December 2021). "Vector Group completes Douglas Elliman spinoff". www.bizjournals.com. https://www.bizjournals.com/southflorida/news/2021/12/31/douglas-elliman-ticker.html. 
  18. ↑ "Offices in New York City". http://www.elliman.com/offices/new-york-city. 

External links



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