Profile: Vector Group Ltd (VGR.N)
29 Apr 2016
Vector Group Ltd., incorporated on September 7, 1999, 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. (Vector Tobacco) subsidiaries; the sale of electronic cigarettes (e-cigarettes) in the United States through its Zoom E-Cigs LLC (Zoom) subsidiary, and the real estate business through its New Valley LLC subsidiary, which is seeking to acquire or invest in additional real estate properties or projects. The Company's business segments include Tobacco, E-Cigarettes and Real Estate. The Tobacco segment consists of the manufacture and sale of cigarettes. The E-Cigarettes segment includes the operations of the Company's e-cigarette business. The Real Estate segment includes the Company's investments in New Valley LLC, which includes Douglas Elliman, Escena, Sagaponack and investments in real estate ventures.
Liggett is the operating successor to Liggett & Myers Tobacco Company. Vector Tobacco is a discount cigarette manufacturer selling product in the deep discount category. Liggett's manufacturing facilities are located in Mebane, North Carolina, where it manufactures Vector Tobacco's cigarettes pursuant to a contract manufacturing agreement. Liggett produces cigarettes in approximately 117 combinations of length, style and packaging. Liggett's brand portfolio includes EAGLE 20's, PYRAMID, GRAND PRIX, LIGGETT SELECT, EVE and USA and various Partner Brands and private label brands. Liggett's customers are primarily candy and tobacco distributors and grocery, drug and convenience store chains. Liggett's facility has the capacity to produce approximately 16.4 billion cigarettes per year.
The E-Cigarettes segment includes the operations of its subsidiary, Zoom E-Cigs LLC (Zoom). Zoom operates 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 projects. New Valley holds interest in Douglas Elliman Realty, LLC (Douglas Elliman Realty), which operates a residential brokerage company in the New York City metropolitan area, which is known as Douglas Elliman Real Estate or Douglas Elliman. New Valley also holds investment interests in various real estate projects domestically and internationally. Douglas Elliman Realty, LLC owns Residential Management Group LLC, which conducts business as Douglass Elliman Property Management and is the New York metropolitan area's manager of rental, co-op and condominium housing and Title Services business. Douglas Elliman Real Estate is engaged in the real estate brokerage business through its approximately seven subsidiaries. The seven brokerage companies have approximately 79 offices in the metropolitan New York area, South Florida, Beverly Hills, California, Connecticut and Aspen. The New York City brokerage operation has over 20 New York City offices, with approximately 7,119 transactions. The Long Island brokerage operation is a residential brokerage company on Long Island with approximately 40 offices. Douglas Elliman of Long Island (LI) serves approximately 250 communities in Long Island and Queens, New York. The Westchester brokerage operation operates in a suburban area north of New York City with over six offices. The Connecticut brokerage operation operates in Greenwich, Connecticut with one office.
Douglas Elliman Florida, LLC operates in South Florida with over 14 offices located in downtown Miami, Miami Beach, Coconut Grove, North Miami, Ft. Lauderdale, Boca Raton and Palm Beach. Douglas Elliman Real Estate operates as a broker in residential real estate transactions. In acting as a broker for the seller, its services include assisting the seller in pricing the property and preparing it for sale, advertising the property, showing the property to prospective buyers, and assisting the seller in negotiating the terms of the sale and in closing the transaction. The company also offers buyer brokerage services. When acting as a broker for the buyer, its services include assisting the buyer in locating properties that meet the buyer's personal and financial specifications, showing the buyer properties, and assisting the buyer in negotiating the terms of the purchase and closing the transaction. Douglas Elliman Real Estate also offers relocation services to employers, which provide a range of services 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.
DE Title Services provides full-service title and settlement (such as closing and escrow) services to real estate companies and financial institutions. DE Title Services acts in the capacity of a title agent and sells title insurance to property buyers and mortgage lenders. DE Title Services is licensed as a title agent in New York. Douglas Elliman Real Estate's Website, elliman.com, serves as a destination, where consumers can search properties throughout the entire New York and South Florida markets and access market information, as well as building and neighborhood guides, and other interactive content. Its AskElliman.com Website facilitates communication with consumers, providing them with access to information from real estate to mortgage financing, to specific neighborhoods.
Real Estate Investments
The Company owns and seeks to acquire investment interests in a range of domestic and international real estate projects through debt and equity investments. Its Land Development projects include Escena and Sagaponack. The Company is developing a 450-acre approved master planned community in Palm Springs, California. The development consisted of over 670 residential lots, which include both single and multi-family lots, an 18-hole golf course, clubhouse restaurant, golf shop and seven-acre site approved for a 450-room hotel. The Company is also developing an oceanfront plot of land in Sagaponack, New York. Its condominium and mixed-use development properties include 10 Madison Square West, The Marquand (11 East 68th Street), 11 Beach Street, 20 Times Square (701 7th Avenue), 111 Murray Street, 160 Leroy Street, 215 Chrystie Street, The Dutch LIC (25-19 43rd Avenue), Queens Plaza (23-10 Queens Plaza South), 87 Park (8701 Collins Avenue), 125 Greenwich Street, West Hollywood (9040 Sunset Boulevard), 76 Eleventh Avenue, Monad Terrace and Takanasee. The Company's apartment buildings include Maryland Portfolio and ST Portfolio. Its Hotels portfolio include Park Lane Hotel, Hotel Taiwana and Coral Beach. Its commercial properties include The Plaza at Harmon Meadow.
The Company competes with Philip Morris USA Inc., Reynolds American, Imperial Brands Plc, Century-21, ERA, RE/MAX International, Sotheby's International Realty, Better Homes and Gardens Real Estate, Berkshire Hathaway HomeServices, Coldwell Banker, GMAC Home Services and NRT LLC.
Vector Group Ltd
10TH FLOOR, 4400 BISCAYNE BOULEV
MIAMI FL 33137