BRISTOL (dpa-AFX) - Imperial Brands PLC (IMB.L), a tobacco company, Wednesday announced that it is acquiring Black Buffalo, a modern oral business, for an initial consideration of $150 million.
The company aims to broaden and strengthen its portfolio in United States oral nicotine category with this acquisition, as Black Buffalo's tobacco alternative long cut and pouch products are designed specifically for legal adult consumers of traditional moist smokeless tobacco.
Further, Imperial Brands might pay an additional deferred sum based on performance over three years. Effective immediately, Black Buffalo will become part of the Imperial Brands portfolio.
On Wednesday, IMB.L shares were trading at 2784 pence, down 0.18% on the London Stock Exchange.
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