Tilray Brands, a global lifestyle and consumer packaged goods company, has announced the acquisition of four craft breweries from Molson Coors Beverage Company. The deal includes Hop Valley Brewing Company, Terrapin Beer Co., Revolver Brewing, and Atwater Brewery, further solidifying Tilray’s position in the U.S. craft beer market.
Over the past year, Tilray has expanded its product portfolio by acquiring several spirits and beverage producers, a move aimed at bolstering its position in the market amidst challenges in the cannabis sector.
Exactly one year ago, Tilray's bought eight beer and beverage brands from Anheuser-Busch (inside.beer, 7.8.2023) positioning the company as a significant player in the industry.
The strategic move aims to strengthen Tilray’s leadership in key markets such as the Pacific Northwest, Georgia, Texas, and Michigan. With the addition of these breweries, Tilray's beverage division expects to increase its beer accounts by 30%, growing to 15 million cases annually.
Irwin D. Simon, Chairman and CEO of Tilray Brands, emphasized the importance of this acquisition in driving growth and expanding the company’s national distribution. This deal reflects Tilray's ongoing efforts to focus on premium craft beer brands, building on its established presence with other notable acquisitions.
Tilray Beverages portfolio boasts a range of leading craft beer, spirits and non-alcohol beverages including SweetWater Brewing Company, Montauk Brewing Company, Alpine Beer Company, Green Flash Brewing Company, Shock Top, Breckenridge Brewery, Breckenridge Distillery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewing Company, Widmer Brothers Brewing, Square Mile Cider Company, HiBall Energy, and Happy Flower CBD sparkling cocktails.
This latest expansion is part of Tilray's broader strategy to dominate the craft beer market, leveraging its expertise in operational excellence and product innovation. The company also has plans to integrate these newly acquired brands, aiming to unlock their full potential and drive future growth across the U.S. beer market.
Molson Coors, on the other hand, views the sale as a step toward focusing its resources on higher growth segments within its portfolio, aligning with its long-term strategic goals.
This deal is expected to close following the fulfillment of customary closing conditions.
