Altria Offers Atlantic Vapor Seven Figure Deal For Ecig Predicate Product
PHILADELPHIA, Feb. 20, 2015 /PRNewswire/ -- Atlantic Vapor (Atlantic Cigs) confirms they were contacted by Altria regarding the purchase of the electronic cigarette predicate product but at this time no offer was accepted.
Altria has seen the predicate product and offered a seven figure deal to acquire it. This offer was not in line with Atlantic Vapor's current expectations.
Atlantic Vapor President Nick Kruczaj provided the following statement:
"We are strongly in favor of utilizing the predicate product in a way that promotes jobs and small business growth in the United States. We are not completely opposed to a deal with Altria, Imperial Tobacco or any other tobacco company. However, we would prefer reasonable offers that are in line with our overall objectives and the objectives of the vaping community.
"Our preference is to work with electronic cigarette companies. A partnership with a non-tobacco, strictly ecig company, such as Electronic Cigarette International Group LTD., is of more interest. We want to ensure the viability of quality ecig products and responsibly produced e-liquid as well as considering the future of vape shops.
"We are vape shop owners ourselves and understand the service we provide at a one-on-one level. We opened our first Atlantic Vapor shop in Philadelphia's King of Prussia Mall, the largest retail mall in the US. Here we service a wide range of consumers and are proud to help them find the right product, whether it would be cig-a-likes or mod vaporizers and ejuice.
"We also want to ensure that online sales remain strong in the US, as there are many who are unable to go to a vape shop. Internationally, our intentions are to maintain our strong online customer base in Australia and The Republic of Korea and to service any other countries worldwide.
"With FDA regulation looming, the predicate product is a critical component for the substantial equivalence pathway. Many believe this could likely affect a number of electronic cigarette brands, e-liquid vendors and vape shops around the country seeking FDA approval.
"We look forward to any offers from potential partners that share our vision and goals while simultaneously agreeing to a mutually beneficial business arrangement."
Atlantic Vapor
Contact: [email protected]
Atlantic Vapor
690 W. Dekalb Pike
Suite 2092
King of Prussia, PA 19406
610-337-7400
www.atlanticcigs.com
Photo - http://photos.prnewswire.com/prnh/20150220/176730-INFO
SOURCE Atlantic Vapor
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