Tilray Brands had already entered the brewery space, in addition to cannabis sales. The New York City company also owns SweetWater Brewing Company, Montauk Brewing Company, Alpine Beer Company, and Green Flash Brewing Company.
Tilray said that the transaction, which was announced in August, will triple its beer sales volume from four million cases to 12 million. The acquisition also provides additional manufacturing capacity and innovation capabilities for commercial expansion opportunities. The brewer said in August that it was confident that its U.S. market share had stabilized after sales tanked.
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