Yesterday, e-cigarette makers FIN and Victory announced that the two companies would merge, forming one of the largest e-cigarette manufacturers not owned by Big Tobacco.
“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.”
–Bill Fields, Victory board member
The merged company will sell e-cigarettes under the FIN brand, and is expected to drive consolidated sales over $100 million per year. The merger is expected to complete within the next few weeks.
The two companies expect the merger to save manufacturing costs and give the FIN brand a much broader reach, in the face of stiff competition from large tobacco companies, most notably Lorillard’s Blu brand.
The merger follows Victory’s acquisition of UK-based Vapestick, which was finalized less than a month ago.
E-Cig Startups Band Together as Big Tobacco Looms
Victory and FIN to Merge
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