Victory Electronic Cigarettes acquired Ten Motives in a deal worth USD 104 million (EUR 76.4 million) in cash and shares that will add one of Europe’s fastest growing e-cig companies to the Victory stable, the company said.

Ten Motives, the UK leader in the food, drug and mass market (grocery store) segment, is Victory’s third acquisition in Europe this year, said the US-based marketer of Vapestick, VIP and other brands.
“We believe that scale and broader sales, marketing, and distribution capabilities will be needed to compete in the industry going forward”, said Ten Motives Director Art Devlin. “We are also proud to now be a central part of the world’s largest independent e-cig company, and are confident it will help us achieve our objectives.”