Japan Tobacco sets sights on e-cigarette push with U.S. Vector deal

TOKYO -- Japan Tobacco aims to secure more cash to invest in e-cigarettes and other heated tobacco products with its $2.4 billion acquisition of U.S.-based Vector Group, in a bid to catch up to global rivals in the rapidly growing field.

Vector Group sells cigarettes mainly in the U.S. under Montego and other brands. It is the fourth-largest player in the country, logging sales of $1.42 billion in 2023.