Nottingham vape brand swoops for rival

Image by Trần Tiến Lộc Đỗ from Pixabay

A fast-growing vape brand has acquired a rival firm in a deal which will see it add five retail stores to its portfolio.

Nottingham-based Red Box Vape has swooped for North East firm Vapour Logic as part of its plans to open at least 100 Red Box stores by the end of 2020.

The firm’s newly acquired stores are all located in Tyneside and Northumberland and bring the total number of Red Box stores across the UK up to 19.

Mark Shaw, managing director of Red Box Vape, said: “We are delighted to have concluded the transaction with Vapour Logic which will add a further £0.6 million to our turnover. Vapour Logic operates in a number of locations where we don’t have any representation and so meets our philosophy of providing a welcoming retail outlet for smokers that wish to quit.”

Although Red Box has purchased 100 per cent of Vapour Logic, existing director Clayton Scott is expected to remain within the business structure to ensure a smooth transition of ownership.

He said: “Customers will notice very little change initially, particularly as the existing team share the same high standards of service that we do at Red Box Vape.

“I’m pleased to be in business with Red Box Vape with such a clear vision about high quality and standards. We look forward to being part of Red Box Vapes future growth strategy and to making available to our customers the wide range of Red Liquids products.”

Derbyshire-based accountants Coates & Partners acted as lead adviser on the acquisition, while London-based solicitors Setfords provided legal representation.

Click here to sign up to receive our new South West business news...
Close