Tuesday, February 4, 2020 3:45 PM
AMV’s Goal is To Create One of the Largest Vape Retailers In America
MOORESVILLE, N.C. / ACCESSWIRE / February 4, 2020 / AMV Holdings LLC (AMV) one of the largest independent specialty vape retailers in the vaping industry with retail and manufacturing operations is pleased to announce on January 31, 2020 it acquired through a wholly-owned subsidiary, substantially all of the assets of Kure Corp (“KURE”). AMV already operates a multi-branded retail footprint, including names such as Madvapes and Alohma, KURE brings another leading specialty vape retail brand to the organization. Following the closing of the acquisition, AMV expects that the combined business will employ over 350 people, operate 113 stores in 19 states, as well as international operations in Europe and will have significant retail, manufacturing, and distribution capabilities that will be focused on the goal of providing its consumers with the best selection, service, and quality. Following this transaction, AMV’s plans to continue to expand through acquisitions with the long term goal of eventually undertaking an initial public offering.
“This is a significant development in the retail vape industry. We believe KURE to be the “Starbucks” of the specialty retail vape industry. KURE has been a great brand in our sector, we are excited to add their distinct line of custom blended high-end flavored e-Juices to our portfolio of proprietary e-liquids, as well as one of the largest selections of the most recognized third-party hardware and e-liquid brands. We are excited about taking this grow this brand and its dedication to customer service, customer experience and unique product experience. I believe that the scale of the combined operations will enable us to increase our investment in quality assurance, science, and regulatory efforts adding both depth and scale to our team. We remain committed to being strong industry stewards and believe increasing scale will matter more and more as companies work to navigate changing industry dynamics and dealing with the forthcoming PMTA applications” said Sam Salaymeh, President of AMV.
AMV Holdings, LLC
AMV Holdings, LLC is a privately held company. With portions dating back to 2009, AMV Holdings, LLC roots are founded in a several entrepreneurs, in Mooresville/Wilmington North Carolina and Omaha, Nebraska, who wanted to share their personal positive experience of vaping with others. Since 2014, AMV has been backed by two investment firms Meriturn Partners, LLC and Panorama Point Partners, LLC. In the years since their investment, the platform has grown from 10 stores in eastern North Carolina to a global platform that is one of the leaders in the vaping industry.
This press release contains forward-looking statements. Any statements contained herein which do not describe historical facts, including but not limited to, statements regarding: (i) our business; (ii) expectations about our business and future of its market; (iii) our ability to undertake future acquisitions; (iv) expectations regarding future intentions we plan on undertaking as part of our business plan; or (vi) beliefs about the consumer adoption of our industry and our goal of bringing new innovative products to consumers, are forward-looking statements which involve risks and uncertainties that could cause actual results to differ materially. There are no assurances our expectations will be realized. In addition, we operate in an industry which is subject to changing regulations and there are no assurances we will be able to comply with existing or new regulations which may be adopted from time to time. We disclaim any obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.