Japan Tobacco completed the acquisition of Vector Group for $2.4bn.

Japan Tobacco, a global company operating in tobacco, pharmaceuticals and processed food, completed the acquisition of Vector Group, an American diversified holding company, for $2.4bn. “Vector Group and JT Group share a commitment to quality and excellence and providing consumers an outstanding value proposition in the US cigarette market. This transaction delivers significant value to Vector Group stockholders and creates opportunities for our employees, who will become part of a leading global organization. Vector Group has an incredibly talented team who have been completely dedicated to building a strong business. JT Group has deep respect for Liggett Vector Brands’ legacy of value-focused, quality products and looks forward to continuing to meet customers’ evolving needs,” Howard M. Lorber, Vector Group President and Chief Executive Officer.