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.
SOURCE Vapor Corp.