Florida-Headquartered Vector Group Sells To Toyko-Based Company For $2.4 Billion

Photo byEmw, CC BY-SA 3.0, via Wikimedia Commons

Florida has had some large business exchanges in August of 2024 - one of which was with companies outside of the United States. I've written about $121 million worth of farmland being sold in Ocala, Lee Vista Promenade being sold to a Canadian group for $68.5 million, and Cheney Brothers food distributing selling for $2.1 billion. And now, Florida's Vector Group has agreed to be acquired by a Toyko-based company for over $2 billion.

About Vector Group: This firm serves as a holding company for Liggett Group LLC and Vector Tobacco Inc. It is headquartered in South Florida, but it also has an office in New York and tobacco operations in North Carolina. The company manufactures cigarettes and is listed on the New York Stock Exchange under the symbol “VGR."

Employees of the company rate it highly on Indeed, where it earns 4.2 out of 5 stars. Reviewers said the Vector Group was a good place to work and gain experience.

The Recent Sale: In late August of 2024, The Vector Group agreed to be acquired by Toyko-based JT Group in a deal with a valuation of $2.4 billion. In 2023, the company had net sales of $1.42 billion.

Vector Group President and CEO Howard M. Lorber shared that the sale will benefit both employees and shareholders, explaining, in part:

“...This transaction delivers significant value to Vector Group stockholders and creates opportunities for our employees, who will become part of a leading global organization..."

The author is not affiliated with The Vector Group or JT Group.