Tilray Expands into Brewery Business with Acquisition of 8 Beer Brands From Anheuser-Busch

Cannabis company Tilray Brands Inc. (TSE: TLRY) has cemented its position in the craft brew industry after finalizing the acquisition of eight beer brands from Anheuser-Busch, one of the world’s largest and most iconic beer conglomerates.

Closing of this deal marks a significant development in the convergence of the cannabis and beverage industries, demonstrating the growing acceptance of cannabis-related products in mainstream markets.

The brands in question include Square Mile Cider Company, Breckenridge Brewery, HiBall Energy, Redhook Brewery, 10 Barrel Brewing Company, Shock Top, Blue Point Brewing Company and Widmer Brothers Brewing.

The companies failed to reveal the financial details of the transactions however, Tilray had earlier announced that it would be paying cash for the respective acquisitions.

“Tilray has acquired a stellar lineup of eight craft beer and beverage brands that both solidify our leadership in the craft beer industry and strengthen our business in the expansive beverage sector in which we see tremendous opportunity to reinvigorate innovation across many categories including non-alcoholic beverages, energy, and nutritional drinks,” said Tilray’s chairman and CEO Irwin Simon.

Tilray is looking forward for this strategic acquisition to triple its beer sales volume from four million cases to 12 million cases. Additionally, the acquisition also provides extra manufacturing capacity and innovation capabilities for commercial expansion opportunities.