DANIA BEACH, Fla., Sept. 1, 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 first post capital
raise acquisition of two established retail vape stores, located in
Gainesville, Florida. Terms of the
transaction were not disclosed.
"Following the recent closing of Vapor Corp.'s $41.4 million equity raise, we promised an
intelligent and aggressive plan to establish a national footprint
for our retail store brand. In just four weeks, we're off to a
strong start, having opened two new stores and completing the first
two of what we expect will eventually be a large number of
calculated, strategic acquisitions," said Greg Brauser, Vapor Corp.'s President. "These
consumer retail operations, which will transition to the Vapor
Corp. banner, have done a great job of building a strong reputation
and gaining traction within the local vaping community. With Vapor
Corp.'s corporate strengths and capabilities, we intend to further
build out this geographic region to accommodate local demand."
In response to the growing consumer demand for vaping
merchandise across the U.S. and in recognition of the shift in
consumer preference to purchase these products in vape-dedicated
stores, Vapor Corp. is significantly expanding its retail
footprint. These acquisitions represent the Company's 13th and 14th
"The Vape Store" locations, with a goal of increasing the number of
Company-owned retail stores by 20 to 30 locations before the end of
the calendar year.
In 2015, an estimated one-third of the $3.5 billion retail purchases in the U.S. will be
made through the vape shop retail channel, while just a short time
ago, all brick and mortar sales were made through c-store, food,
drug and mass retail channels.
Jeff Holman, Vapor Corp.'s CEO,
added, "These acquisitions give Vapor Corp. a strong foothold in an
important local market and provide a solid foundation from which to
open and acquire additional stores in surrounding areas. By
deploying capital into existing, profitable locations, we
simultaneously achieve an immediate ROI and strategically 'prime'
the market to support additional locations that can synergistically
feed off of the success of these inaugural stores."
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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SOURCE Vapor Corp.