Vapour Lounge snapped up in Red Box Vape expansion
Vapour Lounge: five stores
Scottish e-cigarette retailer Vapour Lounge has been acquired by accessories firm Red Box Vape.
Vapour Lounge has five outlets in Dundee, Dunfermline and Edinburgh and director Ross Anderson will remain at the business to “ensure a smooth transition of ownership and drive increased profitability”.
Red Box Vape, headquartered in Nottingham, has opened or acquired 24 stores across the UK this year as it aims to have “at least” 100 outlets by the end of 2020.
Accountancy firm Coates & Partners acted as lead adviser in the Vapour Lounge deal, with legal representation from London-based Setfords.
Mark Shaw, managing director of Red Box Vape, said: “Vapour Lounge is a successful business with a strong client base and operates in a number of locations where we don’t have any representation and so is a good fit.”