(image: VMR Products)
MIAMI, FL, Dec. 14 (Korea Bizwire) – VMR Products, a leading electronic cigarette and vaporizer company, announced today a $23MM investment by Huabao International Holdings, a diversified holding company with significant interests in flavors and fragrances. This is the first major investment VMR has accepted since the company was founded in 2009.
The investment will be used to fuel future growth domestically — where the company is the number one retailer on the Internet and is distributed in more than 55,000 stores — as well as internationally, specifically in China, Hong Kong and Taiwan, which collectively house over 355 million smokers according to the World Bank. Much like its strategy in the US, VMR will first tackle these new markets online and then expand on the ground into retail locations.
“Huabao is the perfect match for us,” stated Jan Verleur, CEO and co-founder of VMR. “We knew there were many potential partners out there who could provide us with growth capital, but only a precious few who shared our vision for growing in Asia and could also provide the operational assistance to help us execute our strategy.”
Huabao is one of the ten largest flavor and fragrance companies in the world, and has deep interests in vapor technology, recently launching its own brand of e-cigarette, Stand Point Vapor (SPV).
“We will work closely with Huabao and SPV to introduce new vapor technologies in both the US and Asia markets. While the US remains our most important market, and of course our home base, Huabao’s investment allows us to put considerable focus on the significant opportunities in China, and ultimately the Asian market as a whole,” continued Verleur. VMR corporate headquarters will remain in Miami, and there will be no changes to the management team or management structure.
About VMR
Founded in 2009, VMR Products is a global force in the vapor products industry. The company’s flagship brands; V2®, V2 Pro®, Vapour2™, and Vapor Couture™, are sold in more than 30 countries. VMR designs, produces, distributes and supports an expanding catalog of quality products, and is an OEM manufacturer for a long list of private-label brands, including Zig-Zag®, OCB®, ECG®, QuickDraw®, and SPV®. VMR is the only electronic cigarette company to employ a vertically integrated business model, managing its entire product life cycle to ensure the highest commitment to quality control and customer service.
V2.com®, is the world’s highest volume online retailer of electronic cigarettes and personal vaporizers, and has maintained this position since 2011. The company has distinguished itself as an industry leader with its ever-expanding product lines, powerful vapor production and great taste.
About Huabao Holdings
Huabao International Holdings Limited is a diversified holding corporation with major business in the research and development, production and sale of flavors and fragrances for tobacco, food and personal care products. Headquartered in Shanghai, the company has over 40 subsidiaries in five countries and 19 cities. It is one of the top ten flavor and fragrance companies in the world, with a leading market capitalization among listed flavor and fragrance companies in Asia.
Safe Harbor Statement
This press release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company’s financial position and business strategy. The words or phrases “would be,” “will allow,” “intends to,” “may result,” “are expected to,” “will continue,” “anticipates,” “expects,” “estimate,” “project,” “indicate,” “could,” “potentially,” “should,” “believe,” “think”, “considers” or similar expressions are intended to identify “forward-looking statements.” These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place undue reliance on such statements. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from the Company’s expectations and estimates.
Contact Information
• PR Contacts:
Chris Harihar
Crenshaw Communications for VMR Products
chris@crenshawcomm.com
212-367-9748
Source: VMR Products via Marketwired
