---
title: "Imperial Brands Acquires Modern Oral Nicotine Brand Black Buffalo"
url: https://burnaze.com/article/93ba3fa6-de3f-4dae-bca1-6bbf24b63e90
source: "CStore Decisions"
original_url: https://cstoredecisions.com/imperial-brands-acquires-modern-oral-nicotine-brand-black-buffalo/
category: "Retail"
industry: "Retail"
topics: ["Finance & M&A"]
published: 2026-05-27T17:13:44.000Z
modified: 2026-10-31T13:18:26.563Z
image: https://cstoredecisions.com/wp-content/uploads/2026/05/black-buffalo-logo-1200.webp
---

# Imperial Brands Acquires Modern Oral Nicotine Brand Black Buffalo

**TL;DR:** Imperial Brands has acquired Black Buffalo, a modern oral nicotine brand, to broaden and strengthen its portfolio in the evolving oral nicotine segment. The acquisition is part of Imperial Brands' strategy to build a stronger next generation product portfolio in markets with attractive long-term growth opportunities.

*originally published in CStore Decisions on 2026-05-27. [Read the original](https://cstoredecisions.com/imperial-brands-acquires-modern-oral-nicotine-brand-black-buffalo/).*

## Story

Imperial Brands has acquired Black Buffalo, a differentiated modern oral business, in an effort to broaden and strengthen its portfolio in the evolving oral nicotine segment.

Established in 2015, Black Buffalo’s tobacco alternative long cut and pouch products are designed specifically for legal adult consumers of traditional moist smokeless tobacco (MST). They closely replicate the taste, ritual and branding of traditional products to emulate the experience of MST without tobacco leaf or stem.

Uniquely designed using a proprietary farm-to-can process developed through years of research and development, Black Buffalo is manufactured in North Carolina from U.S.-grown barn-cured leafy greens, with pharmaceutical-grade nicotine and food-grade flavor added. Black Buffalo offers a differentiated experience and appeals to different consumers, compared to zone, Imperial’s existing U.S. range of flavored nicotine pouches.

“This acquisition reflects our disciplined and focused approach to building a stronger next generation product portfolio in markets where we see attractive long-term growth opportunities,” said Lukas Paravicini, CEO of Imperial Brands. “Black Buffalo is a strong, challenger brand with a highly differentiated proposition and complements our broader growth strategy.”

“The oral category continues to evolve rapidly, and this acquisition further strengthens our ability to compete and grow across differentiated segments,” said Kim Reed, president and CEO of ITG Brands, a U.S. subsidiary of Imperial Brands. “Black Buffalo broadens our oral portfolio beyond nicotine pouch offerings and expands the range of products we can offer legal adult consumers.”

“Black Buffalo was built on innovation, deep consumer insights and a commitment to differentiated alternatives for adult consumers,” said Mark Hanson, co-founder and president of Black Buffalo. “We are excited about the opportunity with our new colleagues to combine our brand and product expertise with their scale, resources and commercial capabilities.”

As part of the transaction, the Black Buffalo team will be joining the Imperial Brands team.

The transaction — for an initial consideration of $150 million with an additional deferred sum based on performance over three years and other criteria — is consistent with Imperial’s capital allocation policy to invest in the business strategy through bolt-on transactions. The company continues to be committed to an ongoing multi-year share buyback program.

Effective immediately, Black Buffalo will become part of the Imperial Brands portfolio.

## Entities

- Retail (sector)
- acquisition (topic)
- CStore Decisions (publication)
- portfolio expansion (topic)
- Imperial Brands (company)
- Black Buffalo (company)
- Lukas Paravicini (person)
- Kim Reed (person)
- Mark Hanson (person)
- ITG Brands (company)
- oral nicotine (topic)
- Imperial Brands acquisition of Black Buffalo (deal)

---
Originally reported by CStore Decisions (https://cstoredecisions.com/imperial-brands-acquires-modern-oral-nicotine-brand-black-buffalo/). Summarized by Burnaze (https://burnaze.com/article/93ba3fa6-de3f-4dae-bca1-6bbf24b63e90).