Japan Tobacco Completes Acquisition of Vector Group Ltd.

Oct.09.2024

Japanese Tobacco (JT) announced the completion of its acquisition of Vector Group Ltd. with strategic growth plans in the US.

Recently, Japan Tobacco (JT) (Tokyo Stock Exchange code: 2914) announced on its official website that the company has completed the acquisition of Vector Group Ltd. (VGR) on October 7th.

The tender offer began on September 4, 2024, and ended on October 4, 2024, at 11:59 p.m. Eastern Daylight Time. Due to the satisfaction of the conditions of the offer, JT Group accepted all submitted shares and completed a statutory merger with Vector Group Ltd. on October 7, 2024. Vector Group Ltd. became a wholly-owned subsidiary of JT Group and was delisted from the New York Stock Exchange on the same day.

JT stated that this acquisition aligns with the company's tobacco business strategy. The acquisition is expected to significantly increase JT's market share and distribution network in the United States, leading to higher returns on investment in the combustible tobacco business. The United States is the second-largest tobacco sales market globally and one of the most profitable markets.

The headquarters of VGR is located in Florida, USA, and through its subsidiaries, engages in the manufacturing and selling of cigarettes in the United States.

References:

[1] JT Group Completes Acquisition of Vector Group Ltd.

Also Read:

[1] JT Group to Acquire Vector Group Ltd. for $2.4B, US Market Share Up to 8%

[2] Japan Tobacco Corporation Reports Strong Financial Growth in Q2 2024

[3] Japan Tobacco Corporation Reports Strong Financial Growth in Q1 2024

[4] JT Launches New Champagne Gold Color for Ploom X ADVANCED

#North America #United States #Traditional tobacco #Major companies

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