Buffalo Black Inc. Today announced the successful completion of a substantially oversubscribed $9 75 million growth capital raised, including key strategic investors Pendyne Capital, Watchfire Ventures and Open Pantry Food Marts. Black Buffalo plans to use this capital to expand its marketing presence, upgrade its manufacturing capacity, increase its online distribution, and launch convenience stores and physical retail outlets nationwide. To date, adults 21 years of age and older have been able to purchase Black Buffalo smokeless tobacco alternative products online from Black Buffalo. Come on,
Black Buffalo was founded in 2015 and has invested more than 20,000 hours of research and development in the production of eight Black Buffalo products, including five long-cut and three pouche varieties, all of which contain pharmaceutical grade nicotine but no tobacco leaf or tobacco stem.
“Black Buffalo products have been developed by a team that has collectively dipped traditional smokeless tobacco products for more than 60 years,” says co-founder and President Mark Hanson, “and our guiding principle has always been that dipping is more than just delivering nicotine. It’s also about the ritual: from the crack of the seal, to the look and feel of the high-definition embossed tin, to the rich, moist taste of the first pinch or pouch. We believe that Black Buffalo is the first true alternative for adult consumers looking to switch from traditional dips, as demonstrated by our tens of thousands of customers. “That’s right.
With the proceeds from this capital increase, Black Buffalo has assembled Premarket Tobacco Product Applications for its entire product portfolio, which the company intends to submit to U. Oh, S The Center for Tobacco Products of the Food and Drug Administration in the coming months In addition, Black Buffalo has purchased and expects to deliver a high-performance pouch manufacturer to Q2 2020 from one of the world’s leading industrial manufacturers. Adding this equipment will enable the company to continue to meet demand from its adult customer base, of which almost half are regular consumers of pouches products.
Black Buffalo’s sales increased sharply in 2020 with a month-over-month revenue increase of 31% in March 2020 and 23% in April 2020. “One of the best parts of our initial e-commerce strategy has been to have a direct relationship with our customers, whom we affectionately call ‘the Herd.’ ‘Black Buffalo will always lead with the product, but we are equally excited about the opportunity to continue building on our already strong brand,” said Jeffery David, co-founder and Chief Marketing Officer.
At the end of April 2020, Black Buffalo announced that Donald “Cowboy” Cerrone, one of the most renowned and respected fighters in the field of mixed martial arts, has joined Herd as an official brand ambassador (Cowboy can be found online as @Cowboycerrone across major social media platforms). In addition, Black Buffalo continued to make key hires and investments in the first half of 2020, including the hiring of Matthew Hanson as Chief Growth Officer, the upgrading of the company’s marketing, manufacturing and distribution capabilities, and the implementation of transformative enterprise-wide initiatives to support continued rapid growth.
“We’ve reviewed a number of potential consumer branded goods investments and are thrilled to partner with Black Buffalo,” said Pendyne Capital’s Co-Chief Investment Officer Bo Ramsey. “We believe that Black Buffalo has the potential to capture a substantial market share of nearly $7. Five billion smokeless tobacco products, for which we believe there has been no real alternative for adult consumers to date. “That’s right.
Robert Buhler, President and CEO of Open Pantry Food Marts, said, “The alternative nicotine category has seen explosive growth over the last few years in the chain of convenience stores. We believe that Black Buffalo has the potential to be a leader in the category with its exceptional product portfolio of oral tobacco alternatives. We’re excited to help launch Black Buffalo in multiple brick and mortar retail channels. “That’s right.
For more information on Black Buffalo and its products, please visit Black Buffalo. Come on, Black Buffalo products contain pharmaceutical grade nicotine, which is an addictive chemical, and Black Buffalo products are intended for use only by adults aged 21 and over who are currently using tobacco products.
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