Vaping firm Supreme to float on the AIM

E-cigarette firm Supreme has announced its intention to float its shares for trading on the AIM market of the London Stock Exchange. The company is expected to be admitted on the growth market by next month.

Manchester-based Supreme is a leading manufacturer and supplier of vaping products in the United Kingdom. It also manufactures and supplies branded consumer batteries and lighting to the discount retail, wholesale, independent retail, supermarkets and export sectors. Supreme is also one of the largest producers of vaping e-liquids in the UK by volume.

“Over the last two decades we have established Supreme as a leading manufacturer and distributor of batteries and lighting, and more recently vaping, demonstrating our ability to leverage our extensive distributor and customer relationships to drive growth,” noted Sandy Chadha, CEO of Supreme.

“With a track-record of growing revenues, achieving long-term profitability and strong cash generation, we remain well-placed to build upon this. We are excited about our potential flotation on AIM, which I believe will provide a platform from which to execute on our growth ambitions and realise the next stage of our development,” he added.

Supreme’s vaping brands include 88vape and KiK. It sold around 690, 000 hardware kits and some 4 million items of vaping hardware in the calendar year 2017. Its manufacturing facility in Manchester produces an average of over 130,000 bottles of vaping e-liquid per day.

The firm has seen its revenues increasing to £70.7 million in the year ended 31 March 2017, with a CAGR of 29 percent between 2015 and 2017.

Its customer base includes discount retailers such as B&M, Home Bargains, Poundland, Wilkinsons, Iceland, Poundstretcher and Heron Foods; nationwide retailers such as ASDA and Halfords; and wholesalers and independent retailers such as Booker, Bestway, Costcutter and Nisa.