Profile: Vector Group Ltd (VGR.N)
26 May 2017
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, 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 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.
New Valley LLC is engaged in the real estate business and is seeking to acquire or invest in 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. It includes Douglas Elliman, Escena, Sagaponack and investments in real estate ventures. New Valley also holds investment interests in various real estate projects domestically and internationally. Douglas Elliman Realty 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.
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. As of December 31, 2016, Liggett produced cigarettes in 116 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.
The E-Cigarettes segment includes the operations of its subsidiary, Zoom E-Cigs LLC (Zoom). Zoom operates in the United States.
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 approximately 450-acre approved master planned community in Palm Springs, California. As of December 31, 2016, the development consisted of 667 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. As of December 31, 2016, the Company had 15 investments in condominium and mixed-use development real estate ventures. As of December 31, 2016, the Company had two investments in apartment building real estate ventures located in the Houston, Texas and Baltimore, Maryland metropolitan areas. As of December 31, 2016, the Company had two investments in commercial real estate ventures located in the New York City Standard Metropolitan Statistical Area (SMSA) and Las Vegas, Nevada.
The Company competes with Altria Group, Inc., Reynolds American Inc., Imperial Brands Plc, Century-21, ERA, RE/MAX International, Sotheby's International Realty, Better Homes and Gardens Real Estate, Berkshire Hathaway HomeServices, Coldwell Banker, Brown Harris Stevens, Halstead Properties, and Stribling & Associates.
Vector Group Ltd
10TH FLOOR, 4400 BISCAYNE BOULEV
MIAMI FL 33137