DANIA BEACH, Fla., Oct. 12, 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 three established retail vape stores.
Located in Atlanta, Ga., this
three-store chain marks Vapor Corp.'s first retail acquisition
outside of Florida and brings the
total number of Company-owned locations to 18. Terms of the
transaction were not disclosed.
These latest acquisitions, coupled with the Company's recently
announced acquisitions of retail vape stores in Gainesville and Fort
Myers, Fla., 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 increase the number of Company-owned retail stores to over 30
locations by the end of the 2015. The respective 1,200-square-foot
Atlanta stores opened in
February 2014, April 2014 and September
2015.
"Following the completion of our capital raise and successful
acquisition of several thriving consumer retail operations in
Florida, Vapor Corp. has now
expanded its footprint into Georgia – a testament to the early success of
our national retail expansion efforts," said Jeff Holman, Vapor Corp.'s CEO. "As the
Southeast has been an area of focus for our growth, it is only
natural for Vapor Corp. to expand into Georgia. Not only is it in our backyard, but
we have also identified numerous acquisition candidates that
satisfy our strict investment criteria."
Mr. Holman added, "These stores have quickly demonstrated their
ability to build strong local reputations and gain significant
traction with a growing vaping community. Vapor Corp. expects an
immediate ROI from this acquisition 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. We look forward to advancing our national
retail roll-out 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.