2018-03-23 06:37 ET - News Release
$8.8-million (U.S.). KURE specializes in the retailing of vaporizers and e-cigarettes, e-juices, and related accessories.
ISODIOL INTERNATIONAL INC. SIGNS LETTER OF INTENT TO ACQUIRE LEADING SPECIALTY VAPE RETAILER KURE CORP
Isodiol International Inc. has signed a letter of intent to acquire 100 per cent of KURE Corp., a leading specialty vape retailer headquartered in Charlotte, N.C., with locations in the United States and annualized unaudited fiscal 2018 revenue of $8.8-million (U.S.). KURE specializes in the retailing of vaporizers and e-cigarettes, e-juices, and related accessories.
KURE set out to change the current state of the vape shop industry with the introduction of KURE Vaporium & Lounge, a modern and sophisticated retail environment and lounge catering to the vaping community. By elevating the environment and customer experience, KURE has paved a completely new path to the rapidly growing vaping and e-cigarette industry and operates a total of 12 e-juice bars and lounges today, with plans for international expansion.
"KURE's executives are highly experienced business entrepreneurs that have done a tremendous job in building the KURE brand," said chief executive officer of Isodiol Marcos Agramont. "Not only does this further entrench our footprint in the vaping and e-cigarette industry, but through KURE retail stores, the company will set up its own distribution channels for its family of brands, including ISO-Sport and Be Tru Wellness."
"We believe KURE to be the Starbucks of the specialty retail vape industry. The KURE brand has been carefully built thanks to our incredibly loyal customer following. The KURE philosophy is to serve our customers the best selection of vape juices and hardware by the most knowledgeable customer service professionals, our own Kurators, in an unmatched atmosphere in every KURE store. With over 200,000 customer transactions per year and growing, KURE's knowledge base in the vape industry is exceptional. In joining the Isodiol family, we will now be able to provide our devout customers the very best CBD products on the market. We intend to rapidly expand the KURE brand worldwide," said Craig Brewer, chairman and CEO of KURE Corp.
All KURE products are available on-line and throughout its store locations across the United States. KURE Vaporium & Lounge, KURE Society, Kuriousity and Kurators are all respective trademarks of KURE Corp. Its e-juices can be purchased prebottled or freshly mixed by its staff of Kurators, well-trained and experienced mixologists who can blend over 500,000 unique flavours from the KURE Juice On Tap bar. These KURE e-juices are skillfully blended and served while customers shop, lounge and enjoy a selection of coffees, beverages and snacks, or simply vape.
"When we acquired Bradley's Bioscience, we were excited about the prospects of providing safer alternatives to smoking, while at the same time being able to enter a market poised to be worth over $60 billion by 2025," said Mr. Agramont. "With this partnership, we will further entrench our footprint in this fast-growing industry, and we look forward to the global opportunities it presents for the company."
Once finalized, the terms of this agreement will be defined upon the definitive agreement, which is anticipated by the end of April, 2018.