Turning Point buys International Vapor Group in $24m deal

One of America’s leading independent vaping companies, International Vapor Group, has been taken over by Turning Point Brands in a $24m deal.

Turning Point, which specialises in non-cigarette forms of nicotine delivery, has bought out the company which owns the VaporFi, South Beach Smoke, and DirectVapor brands in a deal that comprises $15m in cash, $5m in the equivalent of Turning Point common shares and a $4m 18-month promissory note, dependent on performance over the course of two years.

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