Premium Liquid Labs sold to Lumo Group

TORONTO — Lumo has 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 on Mar. 15. 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 products such as Da Vinci Code, Big Foot, Du More, Atlantis, BC Fog, and Delta to be back on the shelves in the near future.