VPR Brands L.P. (OTC:VPRB) Announces Acquisition of the Wholesale Business Assets of Vapor Corp (OTC:VPCO)
Aug 03, 2016
OTC Disclosure & News Service
MIAMI, Aug. 03, 2016 (GLOBE NEWSWIRE) -- VPR Brands L.P., (OTC:VPRB) (“VPR Brands” or the “Company”) is pleased to announce that it has acquired the wholesale business assets of Vapor Corp (OTC:VPCO), effective as of July 29, 2016. VPR Brands will be consolidating its operations and moving into the office and warehouse facility that houses the wholesale division and will be hiring all of the 13 employees of Vapor Corp responsible for sales and logistics. The acquired business includes the brand trademarks and websites, inventory and wholesale customer accounts. The brands include Honey Stick (more information available at vapehoneystick.com) a premium open tank mod specifically designed and intended to be used for essential oils and which is becoming popular in medical and recreational marijuana legal states; Vaporin brand (vaporin.com) which is a high quality entry level range of product sold nationwide in smoke shops, convenience stores and gas stations; VaporX brand (iVaporX.com) a premium mod and open tank system program for the experienced Vape customer all for under $100 and available at retail in custom display; and Hooka Stix brand Hooka flavor inspired “cigalikes” (which are electronic cigarettes designed to look as much as a tobacco cigarette as possible). ?All of these operations will be added to VPR Brands’ portfolio of brands along with our newly launched and already international Helium brand? eliquid (vapehelium.com) the very first eliquid to be sold chilled to stay fresh in its own unique custom counter top chiller display.
This acquisition comes at a pivotal time with new deeming regulations which begin to take affect just this week. For example, August 8, 2016 is a critical date where the FDA has cut off any new product from being introduced at retail in the US without first seeking pre-market approval. Any product being sold prior to August 8, 2016 however can remain on the market while seeking approval, through 2018 and into 2019. VPR Brands will now be able to continue selling these products while navigating through the regulatory process. ?With no new product being allowed to come to market VPR Brands is in a unique position to capitalize on the all of the existing products previously sold prior to August 8, 2016.
“This opportunity couldn't have come at a better time,?” said Kevin Frija, the CEO of VPR Brands. “I was actually responsible for launching some of these brands while I was CEO of Vapor Corp and I am excited to be able to start selling them once again. I have always been a sales-driven CEO and look forward to being able to reinvigorate these great products and brands under the new VPR Brands umbrella. We will immediately begin a nationwide marketing push so that all of our existing customers realize our presence and are familiar with our portfolio of brands available to them going forward during the regulatory process and beyond.”
