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Imperial Brands Buys Oral Tobacco Alternative Black Buffalo

Provided by Dow Jones May 27, 2026, 11:41:00 AM

By Aimee Look

Imperial Brands said it purchased oral tobacco alternative brand Black Buffalo for at least $150 million in a bid to bolster its U.S. portfolio after pulling back on vaping products.

London-listed tobacco company said Wednesday that it purchased Black Buffalo for an initial consideration of $150 million, with an additional deferred sum based on performance over three years and other criteria.

Black Buffalo creates products that emulate smokeless tobacco, but without the leaf or stem.

The acquisition comes after the FTSE 100 company earlier this month said it pulled its vaping business from the U.S., citing a drawn-out regulatory approval process. At the time, Imperial said it would lean into its modern oral brands in the U.S. instead.

Write to Aimee Look at aimee.look@wsj.com

(END) Dow Jones Newswires

May 27, 2026 07:41 ET (11:41 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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