Kumulus Vape today announced the signature of two contracts for the acquisition of boutique networks located in France, in 'strategic' geographical areas.

The acquisition price will be paid mainly in cash, but also through the creation of new Kumulus Vape shares, the terms of which will be published in a later press release, the company states.

The combined 2022 sales of the two acquired brands are estimated at close to 1.7 ME, with profitability at this stage dilutive. Kumulus Vape is 'confident' in its ability to raise the profitability of these networks to levels comparable to its own.

The staff of the 8 stores (i.e. 10 employees) have now joined the ranks of the Company, and their managers continue to steer the commercial strategy of their respective brands.

Copyright (c) 2022 CercleFinance.com. All rights reserved.