USA: Tilray Expands Craft Beer Footprint with BrewDog Assets

Tilray Brands has agreed to acquire key U.S. assets of BrewDog, extending the deal spree that began with the Scottish brewer’s UK rescue sale (inside.beer, 03.03.2026) and was followed by the takeover of its Australian business. The U.S. package includes BrewDog’s manufacturing and brewing operation in Columbus, Ohio, three company-owned pubs in Columbus, New Albany and Cleveland, a hotel in Columbus, the flagship Las Vegas brewpub, a franchised site in Denver and a licensed outlet at Columbus airport. Financial terms for the U.S. transaction were not disclosed, and closing is expected in Q4 of Tilray’s fiscal 2026, subject to regulatory approvals.
According to inside-getraenke.de, BrewDog’s German operations are also part of the ongoing divestment process, although developments have been less visible than in other markets. Dominik Tosch, Country Manager Germany, indicated that the sites in Berlin (Mariendorf and Mitte) and Hamburg are expected to reopen despite earlier closure plans. At the same time, preliminary insolvency proceedings have already been initiated for the German entities, with restructuring expert Dr. Philipp Hackländer of White & Case LLP appointed as administrator. He is actively seeking national or international investors to take over the locations, while operations have been partially stabilised: employees are reportedly secured in the short term, purchasing activities have resumed, and beer production for retail channels has continued in recent weeks. It is not known whether Tilray is also interested in the German sites. Germany has long been considered a very difficult market for foreign brewers, and most have withdrawn from it sooner or later.
For Tilray, the move is about more than adding volume. Irwin D. Simon, Chairman and CEO of Tilray Brands, said the assets fit the group’s brewpub model and should help broaden its U.S. alcohol platform by combining established local followings in Ohio with a high-visibility Las Vegas location. After the earlier UK transaction, Tilray already controlled the BrewDog brand and related intellectual property globally, giving it a more unified platform for the brand’s next phase.
Tilray has also recently partnered with Carlsberg to produce and distribute brands such as Carlsberg, Kronenbourg, and 1664 Blanc in the U.S. This agreement strengthens Tilray’s premium import portfolio and expands its reach in the American beer market (inside.beer, 19.2.2026).
The acquisition also matters for the structure of the U.S. craft beer market. According to BeverageDaily and the Brewers Association, Tilray ranked fourth among U.S. craft brewers based on 2024 figures, while BrewDog stood at number 30. That means the added volumes could tighten the race with the top three, although sector rankings remain fluid and Tilray is still expected to stay within the association’s craft definition of less than 6 million barrels annually.
The broader backdrop remains difficult. The Brewers Association reported that U.S. craft beer volumes fell by 3.9% in 2024, while total beer market volume declined by 1.2%, underscoring the pressure from a maturing category, weaker consumption and ongoing industry consolidation. Against that backdrop, the BrewDog deal gives Tilray not only more brewing scale, but also additional direct-to-consumer venues that can support sales across its wider beverage portfolio.