Victory Electronic Cigarettes, FIN Branding Group merge
Victory Electronic Cigarettes, which manufactures and sells electronic smoking devices, and FIN Branding Group, a privately held company, announced the completion of the merger of their two companies.
Following the merger, both the companies will create one of the biggest electronic cigarettes companies in the world with expected annual revenues surpassing $100m.
The merger is part of Victory's ongoing global market consolidation strategy, and is expected to immediately realize powerful strategic, operational and financial benefits.
This merger follows the definitive agreement signed in February. FIN Branding Group is one of the major electronic cigarette brands in the US with distribution in all 50 states across more than 50,000 outlets.
Victory Electronic Cigarettes chairman and chief executive officer Brent Willis said the FIN transaction is the third major agreement in recent months.
"FIN has a tremendous sales organization and tremendous leadership in Elliot Maisel. The business addition enables leverage of a superior position versus most other independent competitors in the United States, and the leadership addition broadens our base of world-class people committed to creating the industry leader," Willis added.
Victory Electronic Cigarettes offers starter kits, cartridges, carrying cases, charger packs, disposable tobacco, and other related products for smokers