Tilray Brands Closes Transaction Acquiring Eight Beer & Beverage Brands From Anheuser-Busch; Solidifies Leadership Position in U.S. Craft Beer Market
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Monday, October 2, 2023
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NEW YORK, Oct. 02, 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 closed its all-cash previously-announced acquisition of eight beer and beverage brands from Anheuser-Busch (NYSE: BUD), including the breweries and brewpubs associated with them. The acquired businesses include Shock Top, Breckenridge Brewery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Company, and HiBall Energy.
Key Points:
- In 2023, the U.S. craft beer market is projected to generate approximately $30 billion in revenue, and to grow at a CAGR of approximately 7.2% through 20303.
- These brands command great consumer loyalty and have a history of delivering strong award-winning products with tremendous growth opportunities.
- Blue Point Brewing Company was founded in 1998 by two friends who wanted to bring local craft beer to Long Island.
- In addition to Tilray Brands’ craft beer portfolio, Tilray also owns Breckenridge Distillery, the award-winning spirits brand and the World’s Best Blended Whisky, Truss Beverage Co. non-alcoholic cannabis-beverages, and Happy Flower CBD sparkling non-alcoholic cocktails.