(Alliance News) - Supreme PLC on Monday said it has bought Lancashire, England-based vaping manufacturer Liberty Flights Holdings Ltd for GBP7.8 million.
The cash-free & debt-free acquisition means Supreme can expand its access in the closed system vaping market and enlarge its product range, the company explained.
"The acquisition is firmly in line with the company's strategy to support a tobacco free UK by offering both credible and safer alternatives for nicotine consumption," Manchester-based consumer goods firm Supreme said.
In its financial year ended January 31, Liberty Flights reported a revenue of about GBP9 million and earnings before interest, tax, depreciation and amortisation of GBP1.5 million. Liberty Flight was founded in 2010.
Supreme shares were flat at 132.00 pence each in London on Monday morning.
By Tom Budszus; tombudszus@alliancenews.com
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Supreme Plc (SUP)