Victory electronic cigarettes and fin branding group sign definitive

merger agreement to create one of the world's largest independent
ecig companies — marketwatch
merger agreement to create one of the world's largest independent
ecig companies — marketwatch

SPRING LAKE, MICHIGAN, Feb 12, 2014 (Marketwired via COMTEX) Victory Electronic Cigarettes Corporation (otcqb ECIG), and FIN Branding Group announced today an agreement to merge their two companies and create one of the leading electronic cigarettes companies in the world. The companies have signed a definitive agreement and expect to close the transaction in the coming weeks. The new company leverages the iconic FIN brand and sales and marketing depth of the FIN organization, with the supply chain capabilities, international breadth, and financial strength of Victory. Within the past 30 days Victory completed the acquisition of VAPESTICK(R), one of Europe’s leading electronic cigarette brands and a partnership with Fields Texas Ltd. to drive global distribution and strategic retail expansion. The addition of FIN brings instant acceleration of scale and distribution in the US, significantly upgrades the global leadership team, and furthers the Company’s efforts to consolidate the electronic cigarette industry globally.

The Fin Branding Group

FIN is one of the leading electronic cigarette brands in the United States with distribution in all 50 states in more than 50,000 outlets. FIN is distributed across all major channels and is one of the top three brands in the convenience, drug, mass, and food channels. The FIN brand enjoys the number one market share position in Wal Mart, and is a leading brand in other major retailers including Walgreens, Rite Aid, Kroger, 7 11, Circle K, Sam’s, Murphy USA, Stripes, Mapco and over 200 other major chains.

Brent Willis, Chairman and CEO of Victory, and a former senior executive at InBev, Kraft, and the Coca Cola Company commented, «FIN is a powerhouse in the US with a great brand, great presence and great growth trends. Their strength in sales and marketing is unmatched, and their management team is impressive. Elliot Maisel, FIN’s Chairman and CEO, is hugely respected and has a tremendous track record of success both in the beer industry and in leading FIN to become one of the preeminent ecig companies in the US. He is going to be a great partner as we combine efforts together with Bill Fields, Michael Clapper and others to build the world’s largest independent electronic cigarette company.»

Building the Largest Independent ECIG Company

The newly formed entity creates an enterprise with 2014 sales on track to far surpass $100 million. With the integration of the FIN Branding Group, Victory has now completed three major transactions in recent months and expects to complete multiple others to grow its brand, distribution, and strategic retailer platforms worldwide. The group is focused on leveraging its low cost position, supply chain and distribution expertise, and experience in running global multinationals to build the leading independent electronic cigarette company in the world.

Bill Fields, Chairman of Fields Texas, Board Member at Victory, and former CEO of Wal Mart Stores commented, «We are delighted to have someone of Elliot’s character and caliber join the team and are confident that the FIN brand will be an iconic American brand that we can leverage into much broader distribution. Together with the Victory Brand at an opening price point and other exclusive brands, we believe we have a compelling offer for both retailers and distributors alike with superior margins and throughput versus any industry competitor.»

Significant Cost and revenue Synergies

The combination of Victory and FIN provides the group greater strength to compete in the rapidly evolving and competitive ecig category. To enhance its competitiveness, the new entity has established a convergence committee to identify and capture major cost and revenue synergies in the areas of people and culture, cost efficiency, and sales, distribution and marketing. Each of the convergence areas have dedicated work teams to identify and capture significant synergies. Thus far, the team has identified more than $5 million of revenue synergies resulting from expanding distribution of both brands and employing a dual brand strategy. In cost synergies, more than $10 million of savings have been identified in the areas of production, supply chain and marketing spend effectiveness, all of which are expected to be achieved within 12 months of closing.

Elliot Maisel, Chairman and Chief Executive Officer of FIN, commented, «The combination of the FIN and Victory brands provides an incredible one two punch for distributors, retailers and consumers, and an opportunity to further increase shareholder value by capturing significant cost and revenue synergies. The combination of the FIN and Victory organizations, coupled with the leadership of Field’s Texas and VAPESTICK in Europe, creates a company with greater potential and growth opportunity than any other competitor in the industry. I am very excited to help lead the organization to become the largest independent electronic cigarette company in the world, and am excited for all our shareholders and the associates at FIN and Victory to share in the benefits of our growth.»

About FIN

FIN Branding Group LLC is one of the leading electronic cigarette companies in the United States with distribution of its iconic American brands in all 50 states in more than 50,000 outlets across all channels of distribution including food, drug, mass, gas and convenience. FIN is sold in some of the most respected retailers in the country with leading positions in Wal Mart, Sam’s, Walgreen’s, Rite Aid, Kroger, 7 11. Circle K, Stripes, Mapco and more than 200 other major accounts. The group was founded in 2011, and quickly rose to enjoy one of the leading share positions in the United States.

About Victory

Victory Electronic Cigarettes Corporation is dedicated to providing a cleaner and healthier alternative to smoking for all, and intends to empower smokers to regain their freedom. Victory is one of the leading companies in the fast growing electronic cigarette market. Victory offers consumers a full product portfolio that incorporates the highest quality and latest technology, and has been rated as superior in real tobacco taste amongst major brands. Victory’s experienced management team is positioned to leverage its differentiated portfolio, distinct go to market approach, and low cost infrastructure to accelerate growth and drive significant value for its shareholders.

About Fields Texas Limited LLC

Fields Texas Limited LLC is a private holding company owned and operated by William Fields (former CEO of Wal Mart Retail Stores Division, Chairman/CEO Blockbuster Entertainment Group and CEO/President of Hudson’s Bay Company). Fields Texas Limited LLC, through its management consultancy and private equity group, seeks to partner with companies within the consumer product, retail and retail service sectors to accelerate growth through implementation of organic and non organic revenue growth initiatives. The group has a proven and experienced team of executives with over 100 years of operating experience within the retail and consumer product industries.

Safe Harbor Disclosure

This press release contains forward looking statements reflecting management’s current expectations regarding future results of operations, economic performance, financial condition and achievements of Victory, including statements regarding Victory’s expectation to see continued growth. The forward looking statements are based on the assumption that operating performance and results will continue to materialize consistent with recent trends. Management believes these assumptions to be reasonable but there is no assurance that they will prove to be accurate. Forward looking statements, specifically those concerning future performance are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties include Vi
ctory’s reliance on additional financing, as Victory has not achieved profitability risks associated with Victory’s products, including that they may pose a health risk governmental regulations may impact Victory’s business the market or consumers may not accept Victory’s products Victory relies on a single class of products existing or pending patents may affect Victory’s business and other factors disclosed in the Company’s filings with the Securities and Exchange Commission. Unless required by applicable law, Victory undertakes no obligation to update or revise any forward looking statements.

 Contacts For investor inquiries please contact James Palczynski Partner, ICR, Inc. 203.682.8229 jp 

SOURCE Victory Electronic Cigarettes

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Fda pulls cigarette brand from stores

Existing inventory may be subject to enforcement action, including seizure, without further notice, the FDA said in a release. Companies that continue to sell and distribute these products in the United States may be subject to enforcement actions by the FDA.

The FDA said Jash did not submit updated applications for a line of cigarettes up for review under The Tobacco Control Act.

Companies with tobacco products on the market when the law passed in 2009 had until 2011 to prove they met new requirements. If they failed to do so, Congress gave the FDA the authority to declare the products illegal.

Friday marks the first time the FDA has ordered a manufacturer of cigarettes to withdraw a product from the market.

The tobacco industry has been under a sustained assault by the Obama administration and Democrats in recent months.

Health and Human Services Secretary Kathleen Sebelius pledged in an op ed on Friday that her administration was working to make the next generation tobacco free.

In January, the surgeon general released a report detailing new health consequences related to smoking to mark the 50th anniversary of its landmark report tying smoking to lung cancer.

The surgeon general proposed new end game strategies aimed at the 42 million adult and 3 million young adult smokers in the U.S., such as hard hitting media campaigns, tobacco excise taxes high enough to deter young smokers and easy to access cessation treatment.

Meanwhile, some retailers are also beginning to consider whether they want to sell cigarettes at all.

The drug store chain CVS Caremark earlier this month announced it would phase out cigarettes, chewing tobacco and cigars by Oct. 1.

«We’ve come to the conclusion that cigarettes have no place in a setting where health care is being delivered,» said CVS Caremark CEO Larry Merlo.

Democrats are urging other stores to follow CVS s lead, sending letters to Wal Mart, Walgreen Co., Rite Aid Corp. and the National Association of Chain Drug Store urging them to stop sales of tobacco products.

In its Friday release, the FDA touted its new control over the tobacco industry.

Historically, tobacco companies controlled which products came on and off the market without any oversight, Mitch Zeller, director of the FDA s Center for Tobacco Products, said in a statement.

But the Tobacco Control Act gave the FDA, a science based regulatory agency, the authority to review applications and determine which new tobacco products may be sold and distributed under the law in order to protect public health.


5 комментариев to “Victory electronic cigarettes and fin branding group sign definitive”

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