VECTOR GROUP LTD

VECTOR GROUP LTD

Previous company name
BROOKE GROUP LTD
Name change date
7/3/1992
Company Overview
Vector Group, Ltd. is a holding company in which through its subsidiaries, engaged in the manufacture and sale of cigarettes in the United States. Vector Group was established in 1911 and was formerly known as Brooke Group Ltd. It is a publicly traded company listed on the New York Stock Exchange and has a registered head office in Miami, Florida, United States of America.
Vector Group produces cigarettes in approximately 220 combinations of length, style, and packaging under various brands, including LIGGETT SELECT, GRAND PRIX, EVE, PYRAMID, USA, and various partner brands and private label brands. The company also develops and markets the low nicotine and nicotine-free QUEST cigarette products, as well as reduced risk cigarette products. Its customers primarily include candy and tobacco distributors, the military, warehouse club chains, grocery chains, and drug and convenience store chains. In addition, Vector Group is active in the real estate business and residential brokerage services and holds interests in various spas, resorts, and hotels.
The company’s mission is to maximize shareholder value by increasing the profitability of its subsidiaries: Liggett Group Inc., Vector Tobacco Inc., and New Valley LLC. Liggett Group Inc., based in Mebane, North Carolina, is a manufacturer of high-quality cigarette products. It was founded in 1873 as Liggett & Myers, Liggett Group is the fifth largest manufacturer of cigarettes in the United States in terms of unit sales. Liggett is the maker of Pyramid, Jade, and Eve 120′s branded discount products, and Liggett Select in the deep discount category. The company also produces a number of private-label and distributor-exclusive brands for a total of more than 240 brand styles. Vector Tobacco Inc., based in North Carolina, is engaged in the development and marketing of the low nicotine and nicotine-free Quest cigarette products and the reduced carcinogen Omni cigarette products. New Valley LLC is engaged in the real estate business and is seeking to acquire additional operating companies. New Valley has a 50% ownership interest in Douglas Elliman Realty LLC, which operates the largest residential real estate brokerage company in the New York metropolitan area.
Business Summary
Vector Group Ltd. (Vector) is a holding company. The Company is engaged in the manufacture and sale of cigarettes in the United States through its Liggett Group LLC (Liggett) and Vector Tobacco Inc., research relating to reduced risk cigarette products through its Vector Tobacco Inc., and the real estate business through its New Valley LLC, which is seeking to acquire additional operating companies and real estate properties. New Valley owns 50% of Douglas Elliman Realty, LLC, which operates a residential brokerage company in the New York metropolitan area.
Description and history
Vector Group Ltd. (Vector) is a holding company. The Company is engaged in the manufacture and sale of cigarettes in the United States through its Liggett Group LLC (Liggett) and Vector Tobacco Inc., research relating to reduced risk cigarette products through its Vector Tobacco Inc., and the real estate business through its New Valley LLC, which is seeking to acquire additional operating companies and real estate properties. New Valley owns 50% of Douglas Elliman Realty, LLC, which operates a residential brokerage company in the New York metropolitan area.

Liggett Group LLC

Liggett is the operating successor to Liggett & Myers Tobacco Company. Liggett manufactures and sells cigarettes in the United States. Liggett’s manufacturing facilities are located in Mebane, North Carolina. Liggett produces cigarettes in approximately 160 combinations of length, style and packaging. Liggett’s brand portfolio includes LIGGETT SELECT, which is a brand in the deep discount category; GRAND PRIX, EVE, which is a brand of 120 millimeter cigarettes in the branded discount category; PYRAMID, which is a deep discount product, and USA and various partner brands and private label brands. Liggett’s products are distributed from a central distribution center in Mebane, North Carolina to 17 public warehouses located throughout the United States. Liggett’s customers are primarily tobacco and candy distributors, the military, warehouse club chains, and large grocery, drug and convenience store chains. Liggett purchases and maintains leaf tobacco inventory to support its cigarette manufacturing requirements. Liggett offers its customers prompt payment discounts, traditional rebates and promotional incentives.

Vector Tobacco Inc.

Vector Tobacco, a wholly owned subsidiary of VGR Holding LLC, is engaged in research relating to reduced risk cigarette products. Until 2009, Vector Tobacco was engaged in manufacture and sale of low nicotine and nicotine free cigarette products in the United States.

New Valley LLC

New Valley LLC is engaged in the real estate business and is seeking to acquire additional real estate properties and operating companies. New Valley owns a 50% interest in Douglas Elliman Realty, LLC, which operates a residential brokerage company in the New York City metropolitan area. New Valley also holds, through its New Valley Realty Division, certain other real estate related investments. Douglas Elliman Realty is engaged in the real estate brokerage business through its two subsidiaries which conduct business as Prudential Douglas Elliman Real Estate. The two brokerage companies have 59 offices with approximately 3,700 real estate agents in the metropolitan New York area. The Long Island brokerage operation is a residential brokerage company on Long Island with 45 offices and approximately 1,750 real estate agents. Prudential Douglas Elliman Real Estate serves approximately 250 communities from Manhattan to Montauk. Prudential Douglas Elliman Real Estate acts as a broker in residential real estate transactions. Prudential Douglas Elliman Real Estate also offers relocation services to employers, which provide a range of specialized services primarily concerned with facilitating the resettlement of transferred employees. These services include sales and marketing of transferees’ existing homes for their corporate employer, assistance in finding new homes, moving services, educational and school placement counseling, customized videos, property marketing assistance, rental assistance, area tours, international relocation, group move services, marketing and management of foreclosed properties, career counseling, spouse/partner employment assistance, and financial services.

The Company competes with Philip Morris USA Inc., Reynolds American Inc., Lorillard Tobacco Company, Commonwealth Brands, Inc., Century-21, ERA, RE/MAX, Coldwell Banker, GMAC Home Services and NRT Inc.

Formerly known as Brooke Group Ltd

Business Line
A holding company in which through its subsidiaries, engaged in the manufacture and sale of cigarettes in the United States
Subsidiary
CASTLE BRANDS INC.
Advisor
PRICEWATERHOUSECOOPERS LLP
IPO date
10/1987
US SIC Code
2111
Company Address
100, S.E. Second Street

City province or state postal code
33131, MIAMI, FL
Phone: +1 305 579 8000
Fax: +1 305 579 8001
Country address: UNITED STATES OF AMERICA
Website url: www.vectorgroupltd.com

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