AMV Holdings (AMV) one of the largest independent specialty vape retailers in the vaping industry with retail and manufacturing operations, announced on January 31, 2020 that it had acquired through a wholly-owned subsidiary, substantially all of the assets of Kure Corp.
AMV already operates a multi-branded retail footprint, including names such as Madvapes and Alohma, KURE brings another leading specialty vape retail brand to the organization.
Following the closing of the acquisition, AMV expects that the combined business will employ over 350 people, operate 113 stores in 19 states, as well as international operations in Europe and will have significant retail, manufacturing, and distribution capabilities that will be focused on the goal of providing its consumers with the best selection, service, and quality. Following this transaction, AMV’s plans to continue to expand through acquisitions with the long term goal of eventually undertaking an initial public offering.
“This is a significant development in the retail vape industry. We believe KURE to be the “Starbucks” of the specialty retail vape industry. KURE has been a great brand in our sector, we are excited to add their distinct line of custom blended high-end flavored e-Juices to our portfolio of proprietary e-liquids, as well as one of the largest selections of the most recognized third-party hardware and e-liquid brands. We are excited about taking this grow this brand and its dedication to customer service, customer experience and unique product experience. I believe that the scale of the combined operations will enable us to increase our investment in quality assurance, science, and regulatory efforts adding both depth and scale to our team. We remain committed to being strong industry stewards and believe increasing scale will matter more and more as companies work to navigate changing industry dynamics and dealing with the forthcoming PMTA applications” said Sam Salaymeh, president of AMV.
Category: Breaking News
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