Anheuser-Busch sells eight beer brands to Tilray
By Food in Canada StaffBusiness Operations Beverages Anheuser Busch Editor pick Tilray
Tilray Brands, a global cannabis company, acquires eight beer and beverage brands from Anheuser-Busch. The Canadian company is buying 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 later this year.
These beer and beverage brands diversify Tilray’s growing U.S. beverage alcohol segment. Tilray Brands also owns Breckenridge Distillery, a spirits brand and the Happy Flower CBD sparkling non-alcoholic cocktails.
Irwin D. Simon, chair and CEO, Tilray Brands, said, “The 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 industry by fuelling new innovation that excites and further accelerates the growth of its consumer base.”
Andy Thomas, president, the High End at Anheuser-Busch, said “Tilray Brands reached out to us early this year with interest in purchasing these brands and breweries, and since then, we’ve had many positive conversations. The talented people behind these brands and breweries, along with our significant investments in them over the years, have positioned them for a bright future with Tilray Brands. We are committed to working with Tilray Brands over the coming months to ensure this is a smooth transition for the people who are working every day to get these amazing beers and beverages to consumers across the U.S.”
Ty Gilmore, president, U.S. Beer at Tilray Brands, added, “With this transaction, our beer business is expected to triple in size from 4 million cases to 12 million cases annually. Looking ahead, we will further capitalize on the potential of these brands through product innovation, retailer partnerships and expanded distribution into key markets, including the Pacific Northwest and California.”
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