Totally Wicked: Vapes giant sold to Chinese investor
Family-owned vapes retailer Totally Wicked has been sold to a Chinese investor, it has been revealed.
The Lancashire-headquartered company, which was founded in 2008 by Jason Cropper, has been acquired by Wittyace UK Holding.
The business is controlled by Chinese national Ying Wang and is registered in Cambridge.
It is ultimately owned by Wittyace Hk Holding Limited, which is based in Hong Kong.
The financial terms of the takeover have not been revealed but filings with Companies House show the new owner now holds at least 75 per cent of shares in Totally Wicked.
Totally Wicked will continue to be run by chief executive Marcus Saxton.
However, filings with Companies House show that Fraser Cropper, the brother of Totally Wicked’s founder, has stepped down as a director.
Other directors to have left include Stuart Mercer, Liam Humberstone, Ben Williamson and Julian Urry.
Record profit for Totally Wicked before sale
The news comes after City PM reported at the start of 2025 that Totally Wicked’s profit had surged to a new record level.
The business reported a pre-tax profit of £8.1m for the 12 months to 31 March, 2024, up from the £3.3m it posted for the prior year.
Its accounts also revealed that the firm’s turnover jumped from £90.4m to £118.1m over the same period – a new record.
The latest total came after Totally Wicked’s turnover stood at £54.4m in the year to 31 March, 2022.
The accounts were filed after the government confirmed in October 2024 that the sale of single-use disposable vapes will be banned in England and Wales from June 2025.
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In a statement the company said: “Totally Wicked is pleased to announce that it has successfully secured a new investor, positioning the company for significant growth across the UK and German markets.
“This investment underscores our commitment to expanding our reach and enhancing our offerings in these key regions.
“Marcus Saxton will continue to serve as the controlling CEO of Totally Wicked, ensuring that the company’s strategic vision and operational excellence remain at the forefront of our initiatives.
“The wider management team will also remain in place, dedicated to maintaining our lead position within the market and driving innovative solutions for our customers.
“This new investment is a testament to the confidence in Totally Wicked’s robust business model and the potential for further success in the vaping industry.
“We look forward to leveraging this opportunity to accelerate our growth and deliver even greater value to our customers, partners and stakeholders.”