JT Group of Tokyo Acquires Vector Group for $2.4 Billion in a Major Florida Business Move

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In a landmark transaction for Florida’s corporate scene, Vector Group, a key player in the tobacco industry, is set to be acquired by Japan's JT Group for a staggering $2.4 billion. This deal adds to a recent string of significant business moves involving Florida-based companies, including the $2.1 billion sale of Cheney Brothers and a $68.5 million acquisition of Lee Vista Promenade by a Canadian firm.

Vector Group: A Brief Overview

Headquartered in South Florida with additional operations in New York and North Carolina, Vector Group oversees Liggett Group LLC and Vector Tobacco Inc. The company, listed on the New York Stock Exchange under the ticker “VGR,” is known for its tobacco products and has received high praise from its employees, earning a 4.2-star rating on Indeed for its workplace environment.

Details of the Acquisition

The acquisition deal, finalized in late August 2024, will see JT Group, a major global player in the tobacco market, take over Vector Group. The deal is valued at $2.4 billion, significantly exceeding Vector Group’s 2023 net sales of $1.42 billion.

Howard M. Lorber, President and CEO of Vector Group, highlighted the positive impact of the transaction:

‘This acquisition not only delivers substantial value to our shareholders but also opens up new opportunities for our employees as they join a leading global organization.’

This acquisition marks a significant step in the global tobacco industry, connecting a well-established Florida company with a major international firm and reflecting ongoing trends in global business expansion.