Supreme PLC (AIM:SUP) said it bought Cuts Ice Ltd and Flavour Core Ltd to broaden its vaping brand.
Cuts Ice is an independent vaping manufacturer with major own brands and OEM manufacturing contracts.
Flavour Core develops flavours and is a regulatory compliance business in e-liquids.
Cuts Ice’s vape brand ‘T Juice,’ with the single flavour ‘Red Astaire,’ achieved significant brand recognition in continental European markets, which will add geographic diversity to Supreme’s customer base.
Cuts Ice and Flavour Core are expected to be fully integrated into Supreme's wider vaping division.
The undisclosed cash consideration will be satisfied from existing resources the move will be be immediately earnings enhancing at an adjusted EBITDA level.
“We continue to see significant growth from within our vaping activities and see this transaction as an excellent example of how we can continue to add both scale and expertise into the group," Sandy Chadha, Supreme chief executive, commented.