TORONTO, March 17, 2022 (GLOBE NEWSWIRE) -- For years, Premium Liquid Labs better known as Premium Labs proudly touted its “A Drop Above the Rest” motto with a strong foothold in the Canadian market. With its sale in February to the Lumo Group company, many vapers will once again be able to get their favourite Dr. Fog brands like Decoded, All Stars, World’s Best and Evercloud.
Lumo agreed to buy all the assets in a winning auction bid for the Premium Labs brand, including intellectual property for original recipes and manufacturing equipment, the company said Tuesday. The deal for Premium Labs, which filed for bankruptcy in September 2021 was finalized last month.
Lumo did not acquire any of the company’s debt but has recognized that prior to the bankruptcy Premium Labs management received payment for orders that weren’t fulfilled for vape shops and retail customers alike. Khaled Shaker, the head of Lumo’s customer service stated, “Customers are likely to be compensated in some fashion by Lumo if our goal of rebuilding the brand is to succeed.”
Lumo is considering whether it will keep some warehouse and manufacturing operations in Burnaby, British Columbia. However, there are ongoing discussions with a manufacturer that is more centrally located in Northern Ontario.
Josh Alberga, chief executive of Lumo, said in a statement that “The Lumo Group will continue to deliver the high quality and complex flavours that Premium Labs is well-known for. Global vapers can expect their classic flavours to be available soon with the same original recipes.” Alberga went on to say, “We see strong potential to grow Premium Labs sales with a capacity to drive further market share penetration in North America and the international vaping markets.”
Vapers can expect fan favourites such as, Da Vinci Code, Big Foot, Du More, Atlantis, BC Fog, and Delta to be back on the shelves in the near future.
About Lumo Group
Lumo Group is an e-liquid distributor in the electronic cigarette industry. As a distributor of high-quality e-liquids, we ensure the manufacturing standards for the e-liquid we promote meets internationally recognized Standards and Good Manufacturing Practices. Everything we sell is tested for safety and satisfaction. Our goal is to provide global vapers with the largest selection of the best flavours while maintaining safety standards.
