Tilray's Deal with AB InBev Expands its Presence in the Beer Industry

Shares of Tilray Brands Inc. rocketed higher on Tuesday after the Canadian cannabis producer announced a deal to buy eight beer and beverage brands from Budweiser parent Anheuser-Busch InBev. The move elicited both praise and concern from Wall Street analysts.

But one analyst noted that sales of the beverages being bought have been falling since last year amid a broader decline in craft-beer sales volumes, a measure of liquid sold. Craft beer has faced rising competition over the years from nonbeer alternatives. “Indeed, craft beer volumes declined 6% in 2021 and 9% in 2022. Specifically, in Nielsen tracked channels, we can see that the purchased portfolio has seen dollar sales declines of 6.4% [year to date] and -8.5% in 2022,” Azer continued.

Tilray said it would pay in cash. The deal, expected to close this year, also included “current employees, breweries and brewpubs” related to those beverage makers. Tilray said the deal would give it four production facilities — two in Oregon and one each in Colorado and New York — and extra manufacturing capacity.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Canadian pot company Tilray to acquire 8 beer and beverage brands from AB InBevCanadian cannabis producer Tilray Brands Inc. has announced its agreement to purchase eight beer and drink brands from Anheuser-Busch InBev, including Shock Top, Redhook Brewery, and Widmer Brothers Brewing. The other five brands involved in the deal are Breckenridge Brewery, Blue Point Brewing Co., 10 Barrel Brewing Co., Square Mile Cider Co., and HiBall Energy.
Source: MarketWatch - 🏆 3. / 97 Read more »

Anheuser-Busch Selling Shock Top, Blue Point to Cannabis Company TilrayAnheuser-Busch, the owner of Bud Light, is selling eight beer and beverage brands to cannabis company Tilray. The exact amount of the deal has not been disclosed.
Source: WSJ - 🏆 98. / 63 Read more »

Slutty Vegan introduces Project Chik, expands business hoursPinky Cole, founder of SluttyVeganATL said: “As we celebrate 5 years, one of the biggest things our customers want is more Slutty Vegan! I’m excited to bring more vegan magic to the ’Magic City‘ six days a week!”
Source: aldotcom - 🏆 82. / 68 Read more »