Vapor Corp. Continues Expansion with Additional Retail Vape Store Acquisition
DANIA BEACH, Fla., Sept. 9, 2015 /PRNewswire/ — Vapor Corp. (NASDAQ CM: VPCO, VPCOU) (the “Company”), a leading U.S.-based distributor and retailer of vaporizers, e-liquids, e-cigarettes and e-hookahs, announced today the successful completion of its acquisition of an established retail vape store, which is the third vape store acquired following the Company’s recent public offering. Located in Fort Myers, Fla., this represents the 15th “The Vape Store” location. Terms of the transaction were not disclosed.
The acquisition of the 15th store, coupled with the Company’s recently announced acquisition of two additional retail vape stores in Gainesville, Fla., are centerpieces in Vapor Corp.’s aggressive retail expansion strategy. As a leading vaporizer / e-cigarette company – and currently the only pure-play company in the $3.5 billion vaping industry that’s listed on a major stock exchange – Vapor Corp. plans to increase the number of Company-owned retail stores to between 30 and 40 locations through the end of 2015.
“Just one month after completing a $41.4 million capital raise, Vapor Corp. has begun to successfully execute against its acquisition program, further establishing itself in the growing Florida vape market. We are excited to add the Vapor Corp. banner to this new location and capitalize on the store’s profitability and loyal customer base. These acquisitions are just the beginning, as we plan to open and acquire additional stores in surrounding areas, further strengthening the Vapor Corp. brand and accommodating the needs of local vaping communities,” said Jeff Holman, Vapor Corp.’s CEO.
Mr. Holman continued, “Our national acquisition program reflects Vapor Corp.’s ambition to become a major force in the retail vaping industry. With a robust and growing pipeline of precise acquisition targets throughout the United States, our strategy is to build a brand that will become the go-to resource for consistency and quality products. Our stores serve as a social meeting place where both novice and experienced customers can learn about the latest in vaping, as well as sample and purchase their favorite products.”
About Vapor Corp.
Vapor Corp., a NASDAQ company, is a U.S. based distributor and retailer of vaporizers, e-liquids and electronic cigarettes. It recently acquired the retail store chain “The Vape Store” as part of a merger with Vaporin, Inc. The Company’s innovative technology enables users to inhale nicotine vapor without smoke, tar, ash or carbon monoxide. Vapor Corp. has a streamlined supply chain, marketing strategies and wide distribution capabilities to deliver its products. The Company’s brands include VaporX®, Krave®, Hookah Stix® and Vaporin™ and are distributed to retail stores throughout the U.S. and Canada. The Company sells direct to consumer via e-commerce and Company-owned brick-and-mortar retail locations operating under “The Vape Store” brand.
Safe Harbor Statement
This press release includes forward-looking statements including statements regarding the Company’s acquisition plans, the expected number of company-owned stores and the 2015 estimate of the vape store market. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. The results anticipated by any or all of these forward-looking statements might not occur. Important factors that could cause actual results to differ from those in the forward-looking statements include contractual issues that may affect future acquisitions, a shift in consumer preferences and future federal and/or state regulation regarding vaporizers and tobacco alternatives. Further information on our risk factors is contained in our filings with the SEC, including the Prospectus dated July 23, 2015. We undertake no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise.
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