DANIA BEACH, Fla., Nov. 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 acquisition of Vulcan
Vape, an established three-store retail vape chain with locations
in Birmingham, Al., Atlanta, Ga., and Nashville, Tenn. This acquisition marks Vapor
Corp.'s second acquisition outside of Florida and brings the total number of
Company-owned locations to 21. Terms of the transaction were not
disclosed.
These latest acquisitions are central to Vapor Corp.'s
aggressive expansion efforts to develop a national footprint
throughout the United States. 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 grow the number of Company-owned retail stores to
over 30 locations by the end of the 2015. The Vulcan Vape stores
opened in Birmingham in
May 2011, Atlanta in September
2013, and Nashville in
April 2013.
"The acquisition of the Vulcan Vape store in Atlanta brings Vapor Corp.'s presence to four
stores in that city, and has quickly made us one of the more
sizeable vape store operators in that important region," said
Jeff Holman, Vapor Corp.'s CEO. "The
newly acquired Vulcan locations mark our first foray into new
territory outside of Florida and
Georgia, and with our successful
closing, we plan to target additional Southeast brick and mortar
businesses within Alabama and
Tennessee to take advantage of
economies of scale."
Mr. Holman added, "The Atlanta
store is within 20 miles of our existing stores in the area, and we
will continue to expand our footprint throughout Georgia, while continuing to forge
relationships with the growing local vaping community. Vapor Corp.
expects an immediate ROI from these new acquisitions as we continue
to establish ourselves as the go-to source for the latest, most
innovative vaping products available, for both experienced and
novice vaping fans across the country. Capitalizing on our strong
success to date, we look forward to advancing our national retail
roll-up plan through the end of the year and into 2016."
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 and the expected number of
company-owned stores. 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, the
adequacy of our working capital, 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.