Garfield, NJ -- (SBWIRE) -- 06/23/2014 -- EC Smokes, an established leader in rechargeable electronic cigarettes, vaporizers, e-liquids and e-hookah products, publicly denied rumors today of a buyout of the young, but fast-growing business. The company stated that they are not involved in any acquisition negotiations with Eonsmoke. Although it is true that the tobacco giants are moving into the electronic cigarette arena and could be considering the smaller electronic cigarette companies, EC smokes remains loyal to their customers who want authentic vaping products at affordable prices.
“Since receiving numerous inquiries from our distributors, we felt it was best to publicly assure our customers, investors, distributors and suppliers that EC Smokes is not pursuing any transactions to sell the company to Eonsmoke at this time.”, explains company spokesmen, Joe Provenzano.
Numerous electric cigarette brands have been acquired over the past couple of years, with Japan Tobacco Inc. (JT) just recently announcing its agreement to acquire all outstanding shares of Zandera Ltd. (“Zandera”), which is best known for its E-Lites brand. And considering e-cigarettes are still a tiny fraction of the $100 billion U.S. tobacco market, the niche industry now accounts for between $250 million and $500 million in annual sales, according to industry estimates, yet it still remains highly fragmented, indicating there’s likely to be further consolidation among independent makers and sellers of e-cigarettes.
On April 24, the Food and Drug Administration revealed a proposal to extend its regulatory authority from traditional cigarettes to other tobacco products, including e-cigarettes. As a result, the impact of potential regulations on the e-cigarette industry remains uncertain. In light of the increasing regulatory measures, EC Smokes is indeed playing an active role announcing its support for the banning of minors being able to buy smokeless cigarettes and being socially responsible in matters of community awareness.
About EC Smokes
EC smokes is dedicated to providing authentic electronic cigarette products at affordable prices all with the customer’s satisfaction in mind. So if users like value for their money and amazing products fulfilled by dedicated service professionals then they need look no further than EC Smokes for their electronic cigarette solution. For more information please visit: http://www.ecsmokes.com/