Imperial buys Nerudia

Imperial Brands has acquired Nerudia, reports Bloomberg, quoting “people familiar with the matter.”

Based in Liverpool, England, Nerudia produces e-liquids and works with manufacturers to ensure products comply with regulatory standards in the European Union and the U.S.

The Nerudia acquisition is the latest in a series of deals that have deepened Imperial’s participation in the vapor business.

In 2013, Imperial acquired Dragonite’s e-cigarette business to get access to that company’s intellectual property. The following year, it purchased Blu, then the world’s leading e-cigarette brand. In July Imperial acquired the Austrian e-cigarette manufacturer Von Erl.

Nerudia was founded in 2013 and now has more than 100 employees. E-cigarette entrepreneurs David Newns and Chris Lord started the company in partnership with Contraf-Nicotex-Tobacco, a provider of pharmaceutical-grade nicotine to the e-cigarette industry.

Newns and Lord sold their previous venture, CN Creative, to British American Tobacco in 2012.

In 2016, Nerudia’s sales were £10.3 million ($13.6 million), according to accounts filed at U.K. Companies House. The company booked a net loss of £826,000 last year.