US: Victory Electronic Cigarettes pays USD 50 mln for VIP

Victory Electronic Cigarettes Corp, which calls itself the world’s largest independent e-cigarette company, said it paid more than USD 50 million (EUR 36 million) for VIP of the United Kingdom.

VIP is one of the UK’s most profitable e-cigarette companies and was launched in 2009, Victory Electronic said in a statement. The price includes a mix of stock and cash. In January, London-based Vapestick joined the Victory group of companies. Field’s Texas Group and FIN Branding also have entered into transactions or partnerships with Victory in the past four months, the company said.

Victory, “expects to continue its external and organic growth activities as it consolidates its industry leadership position and expands into attractive growth markets”, the company said. Enditem