Acquisitive vape brand swoops for Scottish counterpart
Nottingham-based vape brand Red Box Vape has struck a deal to acquire Scottish counterpart Vapour Lounge.
The transaction will see Red Box – one of the fastest growing UK brands in the sector – take over Vapour Lounge’s five outlets North of the border.
The deal, which follows the acquisition of North East rival Vapour Logic in November, will add a further £0.75 million to its turnover.
Vapour Lounge director Ross Anderson will stay on to ensure a smooth transition of ownership.
Mark Shaw, managing director of Red Box Vape, said: “I would first like to welcome the Vapour Lounge team led by Ross Anderson to support our mission of providing a welcoming retail outlet for smokers that wish to quit. We exclusively support British made liquids to provide customers with the highest quality of product protection available.
“Vapour Lounge is a successful business with a strong client base and operates in a number of locations where we don’t have any representation and so is a good fit.”
In 2019, Red Box Vape has opened or acquired 24 stores across the UK.
Its latest move is part of a strategic plan to open at least 100 stores by the end of 2020.
Derbyshire-based accountants Coates & Partners acted as lead adviser on the deal, while legal representation was provided by London-based Setfords.
