World News: 15:03 GMT Monday 20th March 2017. [Turning Point Brands, Inc. via Businesswire via SPi World News]
Turning Point Brands, Inc. (NYSE: TPB), a leading provider of Other Tobacco Products (OTP), together with its wholly-owned subsidiary VaporBeast, today announced that it has entered into a strategic partnership and management agreement with The Hand Media, Inc. d/b/a Vapor Shark (“Vapor Shark”). Other terms of the transaction were not disclosed.
Vapor Shark is a leading distributor and manufacturer of premium vaping e-liquids and hardware, with nationwide distribution through independent retail vape shops as well as owned and franchised Vapor Shark retail locations. TPB and Vapor Shark have agreed to explore ways to work together to provide best-in-class service to the wholesale vapor channel. TPB expects that the companies will cooperate on inventory management, customer service, and product development. Furthermore, TPB anticipates that Vapor Shark will be able to leverage TPB’s extensive regulatory compliance expertise and infrastructure in order to capitalize on additional industry opportunities.
TPB President and Chief Executive Officer, Larry Wexler commented, “Through this strategic partnership with Vapor Shark, we look forward to improving our service to the vapor community and expanding our commitment to this evolving market.”
About Turning Point Brands, Inc.
Louisville, Kentucky based Turning Point Brands, Inc. (TPB) is a leading U.S. provider of Other Tobacco Products. TPB generates solid cash flow through its three focus brands, Zig-Zag® in smoking products, Stoker’s® in smokeless products and the Vapor Beast™ e-commerce distribution engine in NewGen products. More information about the company is available at its corporate website, www.turningpointbrands.com.
About Vapor Shark
Vapor Shark Inc. is a privately held electronic cigarette company based in Miami, Florida, founded in 2010 to provide adult customers with a compelling alternative to combustible tobacco products. Its business functions include the design, manufacture, sale and wholesale distribution of premium vaping products. It operates and franchises retail locations worldwide, and distributes to more than 3,000 independent retailers. For more information about Vapor Shark, please visit www.vaporshark.com.
This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements may generally be identified by the use of words such as "anticipate," "believe," "expect," "intend," "plan" and "will" or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. As a result, actual events may differ materially from those expressed in or suggested by the forward-looking statements. Any forward-looking statement made by TPB in this press release speaks only as of the date hereof. New risks and uncertainties come up from time to time, and it is impossible for TPB to predict these events or how they may affect it. TPB has no obligation, and does not intend, to update any forward-looking statements after the date hereof, except as required by federal securities laws. Factors that could cause these differences include, but are not limited to:
Business Wire: 15:03 GMT Monday 20th March 2017
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