Turning Point Brands family welcomes VaporBeast
If you’ve been reading our page for some time know you probably know we get a majority of our products from VaporBeast. They are one of the leading online stores for vape gear, accessories and e-liquids and the products they sell are always top notch. Everything from electronic to mechanical mods, sub ohm tanks, rebuildable atomizers and wire. It’s one of the biggest online platforms for ecig commerce and we recently found out Turning Point Brands decided to welcome them to their family.
In a transaction estimated at approximately $27 million, Turning Point Brands just announced it signed a definitive agreement to purchase Smoke Free Technologies Inc., parent company of VaporBeast. The deal includes $4 million at the moment of closing, another $19 million in short term notes and the final $4 million scheduled for the next eighteen months.
Turning Point Brands CEO Larry Wexler is excited to welcome the vape gear retailer to their portfolio. He is very happy with what VaporBeast have accomplished so far and that it’s one of the trusted sources of ecig products and accessories in the online environment.
After the acquisition, Turning Point Brands intends to sell some of its products through VaporBeast’s online platform and to introduce customers to items that are not available in traditional retail. This will help boost the company’s fast growing nontraditional retail channels with a minimum of resources invested.
In comparison to Turning Point Brands, which employs a total of 245 people, VaporBeast only has a staff of 48. The online vape reseller will continue to operate from its offices in California. This is TPB’s second major acquisition since its listing in 2016, after signing a deal this fall for four chewing tobacco brands form Wind River.
VaporBeast sold around $53.2 million in products in the last year, with a total net income of $6.4 million. It specializes in hardware and markets a wide range of items from personal vaporizers, starter kits, mechanical mods, rebuildable atomizers, accessories and e-liquids. A number of these products represent the company’s own proprietary brands. We usually find everything we are looking for in their online store, and it’s a great place to get all the novelties. Everything from the industry’s finest mods to some incredibly delicious e-liquids.