Business
Tilray Brands Announces Agreement to Acquire Eight Beer & Beverage Brands From Anheuser-Busch, Fueling Tilray’s Future in the U.S. Craft Beer Industry
Acquisition is Expected to Position Tilray as the 5th1 Largest Craft Beer Brewer in the U.S. with 5%2 Craft Beer Market Share Pro Forma Revenue for Tilray’s
About this update from Tilray Brands, Inc.
[{"type":"text","content":"Acquisition is Expected to Position Tilray as the 5th1 Largest Craft Beer Brewer in the U.S. with 5%2 Craft Beer Market Share Pro Forma Revenue for Tilray’s Fast-Growing and Profitable U.S. Beverage Alcohol Portfolio Combined with Acquired Brands is Expected to be ~$3003 Million Accretive to EBITDA, All Cash Transaction Affirms Tilray’s Success in Executing its Diversified Growth Strategy Webcast to Discuss Announcement at 4:45 p.m. ET Today NEW YORK, Aug. 07, 2023 (GLOBE NEWSWIRE) -- Tilray Brands, Inc. (“Tilray Brands”, “Tilray”, “we” or the “Company”) (Nasdaq | TSX: TLRY), a leading global cannabis-lifestyle and consumer packaged goods company, today announced that the Company has entered into a definitive agreement to acquire eight beer and beverage brands from Anheuser-Busch (NYSE: BUD). Upon satisfaction of customary closing conditions, Tilray will acquire Shock Top, Breckenridge Brewery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Company, and HiBall Energy. The transaction includes current employees, breweries and brewpubs associated with these brands. The purchase price will be paid in all cash and the transaction is expected to close in 2023. These beer and beverage brands possess the hallmarks of strong consumer loyalty and further diversify Tilray’s growing U.S. beverage alcohol segment. The expected sales volume of the acquired brands will elevate Tilray Brands to the 5th largest craft beer business position in the U.S., up from the 9th, with current brands SweetWater Brewing Company, Montauk Brewing Company, Alpine Beer Company and Green Flash Brewing Company. Tilray Brands also owns Breckenridge Distillery, the award-winning spirits brand and the World’s Best Blended Whisky, and Happy Flower CBD sparkling non-alcoholic cocktails. Irwin D. Simon, Chairman and CEO, Tilray Brands, said, “Today’s announcement both solidifies our national leadership position and share in the U.S. craft brewing market and marks a major step forward in our diversification strategy. We are excited to work with the teams behind these iconic brands that command great consumer loyalty and have a history of delivering strong award-winning products with tremendous growth opportunities. Tilray is fully committed to invest in and champion the future of the U.S. craft beer ind...