Turning Point Brands markets Other Tobacco Products (OTP), including Zig-Zag cigarette papers, cigars and smokeless tobacco, and owns the B2B e-vapour e-commerce platform Vapor Beast. International Vapor Group is a B2C platform which sells third-party vapour products and the company’s VaporFi brand is active in the e-vapour retail market.
Founded in 2010, International Vapor Group reported USD 47.7 million (EUR 41 million) in revenue for the twelve-month period ended 30 June, the press release said. TPB did not state the acquisition price, but listed the acquisition value of the company at USD 24 million.
Larry Wexler, President and Chief Executive Officer of TPB, said, "IVG has played an important role in shaping the vaping industry since its inception through its commitment to the consumer experience with a world class B2C infrastructure. This [acquisition] greatly expands our capabilities across all of our selling channels.”