Supreme acquires UK vaping manufacturer Liberty Flights
By Iain Gilbert
Date: Monday 13 Jun 2022
(Sharecast News) - Consumer products manufacturer Supreme has acquired UK vaping manufacturer Liberty Flights for an initial consideration of £7.75m, plus a deferred consideration of £2.0m and a performance-related earn-out.
Supreme said on Monday that the addition of Liberty Flights to the group was a "strategic acquisition" aimed at accelerating product development and expanding the firm's UK customer footprint.
The AIM-listed group added that the Acquisition was also firmly in line with its strategy to support a tobacco-free UK by offering both "credible and safer" alternatives for nicotine consumption.
Supreme also expects the acquisition to be immediately earnings enhancing for the group, with Liberty Flights expected to operate as a standalone entity for an initial 12-month period before being fully integrated.
As of 1045 BST, Supreme shares were up 1.74% at 134.40p.
Reporting by Iain Gilbert at Sharecast.com
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN