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Tilray Brands, Inc. (NASDAQ:TLRY) bought four craft breweries from Molson Coors Beverage Company.
The breweries included in this deal are Hop Valley Brewing Company, Terrapin Beer Co., Revolver Brewing, and Atwater Brewery. This expansion helps Tilray grow its reach into important U.S. regions like the Pacific Northwest and Georgia and builds strong new bases in Texas and Michigan. The acquisition comes as part of an ongoing strategy by the Toronto-based company that has been buying beer brands throughout recent years.
Tilray, valued at $2 billion, is expanding its beverage division. Known for brands like SweetWater Brewing and Montauk Brewing Company, it expects a 30% growth in its beer business from this acquisition. This move not only broadens Tilray’s product range but also strengthens its status as a leading craft brewer as it expands in the U.S.
“By acquiring these four craft breweries from Molson Coors, we are reaching another key milestone in our growth plan,” said Irwin D. Simon, chairman and CEO of Tilray Brands. “Our team’s strong performance will help us maximize the potential of these new brands.”
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According to Michelle St. Jacques, the company’s chief commercial officer, Molson Coors is redefining its business strategy with this deal. “This deal lets us focus our efforts on projects that will significantly grow our top-tier U.S. beer and other beverage lines.”
For Tilray, this acquisition is set to increase their beer production to 15 million cases annually. Ty Gilmore, president of Tilray Beverages in North America said he was looking forward to bringing new team members and distributors on board.
The breweries joining Tilray boast standout beers and strong regional ties. For instance, Hop Valley Brewing Company is famous for its unique Pacific Northwest flavors. Meanwhile, Terrapin Beer Co. in Georgia is known for its innovative brewing methods, Revolver Brewing in Texas and Atwater Brewery in Michigan are celebrated for their bold flavors and expertise.
Consequently, this acquisition not only expands Tilray’s U.S. presence but also enriches its lineup with popular beer varieties.
Posted In: TLRY
