Radcliffe e-cigarette firm sells for £30 million

The Bolton News: E-cigarette firm sells for £30 million E-cigarette firm sells for £30 million

AN American company has bought out a Radcliffe e-cigarette manufacturer in a deal worth almost £30 million.

VIP Electronic Cigarette, based in Dale Street Industrial Estate, was snapped up by Victory Electronic Cigarette Corporation on Tuesday for more than $50 million.

The company, launched in 2009 by co-founders Miguel Corral and David Levin, is one of the leading e-cigarette companies in England and holds the number one market position in Ireland.

Over the past four years it has sold appliances and liquids in major retailers and supermarkets across the UK.

Mr Corrall said everyone at VIP was excited to join Victory and create the largest independent electronic cigarette company in the world.

He added: “We knew that to effectively compete in the next phase of this industry that we would need to partner with someone that shared our same vision and would facilitate us to achieve our long-term objectives.

“We chose Victory because they have the people, the resources, and infrastructure that when combined with our team, will enable us to accomplish our vision – now just on a global basis, and now much faster.”

Brent Wills, chairman and chief executive officer of Victory, said the company was a "high potential franchise" which would strengthen his company’s hold on the e-cigarette market.

He added: “Of all the electronic cigarette companies, VIP was the most profitable company as a percentage of sales of any ecig firm we have seen worldwide.

“Their product portfolio, premium brand, and distribution approaches have global potential and we intend to heavily invest in expanding their distribution model and product portfolio.”

Comments (14)

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5:13pm Tue 22 Apr 14

Thatissowrong says...

Well done. Great products. Got me off ciggies ages ago. Enjoy the rewards of your success.
Well done. Great products. Got me off ciggies ages ago. Enjoy the rewards of your success. Thatissowrong
  • Score: 2

6:45pm Tue 22 Apr 14

David 1957 says...

They should be banned from public places.
They should be banned from public places. David 1957
  • Score: -2

6:55pm Tue 22 Apr 14

soup153 says...

David 1957 wrote:
They should be banned from public places.
Ban people from public places and have done with it. Not much you can't do these days on the net.
[quote][p][bold]David 1957[/bold] wrote: They should be banned from public places.[/p][/quote]Ban people from public places and have done with it. Not much you can't do these days on the net. soup153
  • Score: 4

8:11pm Tue 22 Apr 14

boltonnut says...

Are any local job losses involved in this deal? When companies state that they "have to compete effectively" it usually means they're are pursuing their "objectives" in say ,China or India.Maximize profits,minimize outlay.
Are any local job losses involved in this deal? When companies state that they "have to compete effectively" it usually means they're are pursuing their "objectives" in say ,China or India.Maximize profits,minimize outlay. boltonnut
  • Score: 16

9:04pm Tue 22 Apr 14

Babbar Divino says...

Well done. A good result for VP making money and getting out just at the right time before the whole electronic cigarettes industry comes under tighter legislation
Well done. A good result for VP making money and getting out just at the right time before the whole electronic cigarettes industry comes under tighter legislation Babbar Divino
  • Score: -4

9:46am Wed 23 Apr 14

buckfeed17 says...

Well done to the owners and congratulations on your success.
Well done to the owners and congratulations on your success. buckfeed17
  • Score: 9

10:15am Wed 23 Apr 14

Jim271 says...

The Government want to ban them,

they are losing too much tax and poor people are living too long
The Government want to ban them, they are losing too much tax and poor people are living too long Jim271
  • Score: -5

12:14pm Wed 23 Apr 14

buckfeed17 says...

Jim271 wrote:
The Government want to ban them,

they are losing too much tax and poor people are living too long
You're bang on there. The government don't want to ban (or make them only available through NHS with price hike) these things for health reasons it'll purely be because they're losing tax money. The health implications are currently pretty much unknown but i'm sure they're far less harmful than cigarettes
[quote][p][bold]Jim271[/bold] wrote: The Government want to ban them, they are losing too much tax and poor people are living too long[/p][/quote]You're bang on there. The government don't want to ban (or make them only available through NHS with price hike) these things for health reasons it'll purely be because they're losing tax money. The health implications are currently pretty much unknown but i'm sure they're far less harmful than cigarettes buckfeed17
  • Score: -4

12:59pm Wed 23 Apr 14

littlemisssunshine123 says...

It a shame most of their staff found out the news via social media and the local press rather than their employers letting them know!
It a shame most of their staff found out the news via social media and the local press rather than their employers letting them know! littlemisssunshine123
  • Score: 19

1:01pm Wed 23 Apr 14

OriginalAngryDad says...

It's 12 months this week since I smoked my last cigarette. I switched to vaping and haven't looked back.

I feel healthier, I no longer stink the place up and I've saved about £4000.

I used to smoke 30 a day for over 20 years and never thought I'd be able to give up but e-cigs have made it easy for me.

Hands off, Cameron!
It's 12 months this week since I smoked my last cigarette. I switched to vaping and haven't looked back. I feel healthier, I no longer stink the place up and I've saved about £4000. I used to smoke 30 a day for over 20 years and never thought I'd be able to give up but e-cigs have made it easy for me. Hands off, Cameron! OriginalAngryDad
  • Score: 1

2:11pm Wed 23 Apr 14

buckfeed17 says...

OriginalAngryDad wrote:
It's 12 months this week since I smoked my last cigarette. I switched to vaping and haven't looked back.

I feel healthier, I no longer stink the place up and I've saved about £4000.

I used to smoke 30 a day for over 20 years and never thought I'd be able to give up but e-cigs have made it easy for me.

Hands off, Cameron!
I noticed this post had been marked down -15 !! This guy has proved that they can work, possibly saved his own life, no doubt having a positive knock on effect on his kids (if he has any), saved a fortune and improved his quality of life. Despite this, people feel this is a negative post. Very odd
[quote][p][bold]OriginalAngryDad[/bold] wrote: It's 12 months this week since I smoked my last cigarette. I switched to vaping and haven't looked back. I feel healthier, I no longer stink the place up and I've saved about £4000. I used to smoke 30 a day for over 20 years and never thought I'd be able to give up but e-cigs have made it easy for me. Hands off, Cameron![/p][/quote]I noticed this post had been marked down -15 !! This guy has proved that they can work, possibly saved his own life, no doubt having a positive knock on effect on his kids (if he has any), saved a fortune and improved his quality of life. Despite this, people feel this is a negative post. Very odd buckfeed17
  • Score: 1

5:14pm Wed 23 Apr 14

OriginalAngryDad says...

Cheers, Buckfeed.

I was wondering about the negative response my post had garnered and I'm a bit bemused, if I'm honest.

I have no vested interest in promoting e-cigs, other than the hope that my story may make others in my position think, "Well if it worked for him, I might give it a go."

I'm not overly concerned if people disagree with anything I've written, but I suspect that the ones doing the voting don't really understand the subject matter and have fallen for the myth that e-cigs are just normal cigarettes in a different form.....
Cheers, Buckfeed. I was wondering about the negative response my post had garnered and I'm a bit bemused, if I'm honest. I have no vested interest in promoting e-cigs, other than the hope that my story may make others in my position think, "Well if it worked for him, I might give it a go." I'm not overly concerned if people disagree with anything I've written, but I suspect that the ones doing the voting don't really understand the subject matter and have fallen for the myth that e-cigs are just normal cigarettes in a different form..... OriginalAngryDad
  • Score: 2

8:14pm Wed 23 Apr 14

Babbar Divino says...

OriginalAngryDad wrote:
Cheers, Buckfeed.

I was wondering about the negative response my post had garnered and I'm a bit bemused, if I'm honest.

I have no vested interest in promoting e-cigs, other than the hope that my story may make others in my position think, "Well if it worked for him, I might give it a go."

I'm not overly concerned if people disagree with anything I've written, but I suspect that the ones doing the voting don't really understand the subject matter and have fallen for the myth that e-cigs are just normal cigarettes in a different form.....
I am also bemused by the negative responses to many comments. The only thing I can come up with is that these are from VP employees who are probably quite rightly worried about their future employment.

As for the comment about employees finding out about this through social media and local press I understand that these sorts of takeovers need to be done quietly but, if true, there is no reason why employees couldn't be told just before release to the press?

Good luck to the original owners and I hope all the employees will be retained.
[quote][p][bold]OriginalAngryDad[/bold] wrote: Cheers, Buckfeed. I was wondering about the negative response my post had garnered and I'm a bit bemused, if I'm honest. I have no vested interest in promoting e-cigs, other than the hope that my story may make others in my position think, "Well if it worked for him, I might give it a go." I'm not overly concerned if people disagree with anything I've written, but I suspect that the ones doing the voting don't really understand the subject matter and have fallen for the myth that e-cigs are just normal cigarettes in a different form.....[/p][/quote]I am also bemused by the negative responses to many comments. The only thing I can come up with is that these are from VP employees who are probably quite rightly worried about their future employment. As for the comment about employees finding out about this through social media and local press I understand that these sorts of takeovers need to be done quietly but, if true, there is no reason why employees couldn't be told just before release to the press? Good luck to the original owners and I hope all the employees will be retained. Babbar Divino
  • Score: -6

10:56pm Wed 23 Apr 14

Babbar Divino says...

Babbar Divino wrote:
OriginalAngryDad wrote:
Cheers, Buckfeed.

I was wondering about the negative response my post had garnered and I'm a bit bemused, if I'm honest.

I have no vested interest in promoting e-cigs, other than the hope that my story may make others in my position think, "Well if it worked for him, I might give it a go."

I'm not overly concerned if people disagree with anything I've written, but I suspect that the ones doing the voting don't really understand the subject matter and have fallen for the myth that e-cigs are just normal cigarettes in a different form.....
I am also bemused by the negative responses to many comments. The only thing I can come up with is that these are from VP employees who are probably quite rightly worried about their future employment.

As for the comment about employees finding out about this through social media and local press I understand that these sorts of takeovers need to be done quietly but, if true, there is no reason why employees couldn't be told just before release to the press?

Good luck to the original owners and I hope all the employees will be retained.
?
[quote][p][bold]Babbar Divino[/bold] wrote: [quote][p][bold]OriginalAngryDad[/bold] wrote: Cheers, Buckfeed. I was wondering about the negative response my post had garnered and I'm a bit bemused, if I'm honest. I have no vested interest in promoting e-cigs, other than the hope that my story may make others in my position think, "Well if it worked for him, I might give it a go." I'm not overly concerned if people disagree with anything I've written, but I suspect that the ones doing the voting don't really understand the subject matter and have fallen for the myth that e-cigs are just normal cigarettes in a different form.....[/p][/quote]I am also bemused by the negative responses to many comments. The only thing I can come up with is that these are from VP employees who are probably quite rightly worried about their future employment. As for the comment about employees finding out about this through social media and local press I understand that these sorts of takeovers need to be done quietly but, if true, there is no reason why employees couldn't be told just before release to the press? Good luck to the original owners and I hope all the employees will be retained.[/p][/quote]? Babbar Divino
  • Score: 1

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