DANIA BEACH, Fla., June 2, 2016 /PRNewswire/ -- Vapor Corp. (OTCQB: VPCOD) (the "Company"), a leading U.S.-based distributor and retailer of vaping products, announced today that, through its wholly owned subsidiary, Healthy Choice Markets, Inc., it has completed the acquisition of the assets of Ada's Natural Market, a natural and organic grocery store in Ft. Myers, Florida. The purchase price was $3 million in cash, less adjustments for inventory levels. The store will continue to operate under the same name and management.
"We are extremely excited to have acquired Ada's Natural Market. After an extensive search of numerous business opportunities, we are confident that this acquisition is going to be immediately accretive and will pave the way to continue our now realized goal of beginning to diversify Vapor Corp.," said CEO Jeffrey Holman.
"Ada's has been serving the Fort Myers area for over 40 years. We are very proud to have this as the flagship store under Healthy Choice Markets. We already have plans to enhance and grow its presence within the community, as well as evaluate further opportunities for expansion within the State of Florida," said Christopher Santi, President and COO of Vapor Corp.
About Healthy Choice Markets
Healthy Choice Markets, Inc. is an aspirational leader in providing retail options for those living a clean eating lifestyle. Specializing in natural and organic grocery operations, Healthy Choice Markets, brings a vast array of healthy options from only the finest suppliers, including organic and locally grown produce; over 100 bulk, "by the pound," grains, legumes, spices, dried fruits, and more; a butcher shop offering only antibiotic and hormone free grass fed meats and free range poultry; fine wines, craft beers, and artesian cheeses; and a full range of natural vitamins and supplements. Other in-store offerings include an Organic Juice Bar and Ada's Green Leaf's Cafe and Deli. In a health conscious world, Healthy Choice Markets, Inc. is... FRESH, LOCAL, ORGANIC!
Safe Harbor Statement
Safe Harbor Statements under the Private Securities Litigation Reform Act of 1995: The Material contained in this press release may include statements that are not historical facts and are considered "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect Vapor Corp.'s current views about future events, financial performances, and project development. These "forward-looking" statements are identified by the use of terms and phrases such as "will," "believe," "expect," "plan," "anticipate," and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties, and other factors that could cause actual results to differ materially from Vapor's expectations. These risk factors include, but are not limited to, the risks and uncertainties identified by Vapor Corp. under the headings "Risk Factors" in its latest Annual Report on Form 10-K. These factors are elaborated upon and other factors may be disclosed from time to time in Vapor Corp.'s filings with the Securities and Exchange Commission. Vapor Corp. expressly does not undertake any duty to update forward-looking statements.
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SOURCE Vapor Corp.