December 17, 2019
Red Box Vape has announced the acquisition of leading Scottish vape retailer Vapour Lounge, adding five 5 stores to its growing portfolio.
The takeover follows the company’s expansion into the North East with the acquisition of Vapour Logic last month.
“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,” said Mark Shaw, managing director of Red Box Vape.
The Nottingham-based vape specialist has opened or acquired 24 stores across the UK this year. The company plans to open at least 100 stores by the end of 2020.
Vapour Lounge director Ross Anderson, who will remain within the business to ensure smooth transition, said customers will notice very little change initially.
“This deal gives us an opportunity to be part of a fast-growing business standing for quality, value and advocating the adherence to the highest standards of corporate governance,” he added.
Red Box Vape said the acquisition will add a further £0.75 million to its turnover.