Cannabis seller Tilray broadens footprint in the brewery business, closing deal with Anheuser-Busch

Included in the deal are well-known labels like Shock Top, Breckenridge Brewery, Blue Point Brewing Company, 10 Barrel Brewing Company, Redhook Brewery, Widmer Brothers Brewing, Square Mile Cider Company, and HiBall Energy.The companies did not disclose financial details of the deal, but Tilray said earlier this month when it announced the acquisition that it would be paying cash.

“Tilray has acquired a stellar lineup of eight craft beer and beverage brands that both solidify our leadership in the craft beer industry and strengthen our business in the expansive beverage sector in which we see tremendous opportunity to reinvigorate innovation across many categories including non-alcoholic beverages, energy, and nutritional drinks,” Chairman and CEO Irwin Simon said in a prepared statement.

Anheuser-Busch has had a rough summer, including layoffs, after conservative figures and others called for a boycott of Bud Light because the brand sent a commemorative can to transgender influencer Dylan Mulvaney in early April. A deluge of criticism and hate erupted soon after Mulvaney cracked open a Bud Light in an Instagram video.

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Cannabis seller Tilray broadens footprint in the brewery business, closing deal with Anheuser-BuschThe cannabis company Tilray expanded its position in the craft brew industry, completing the acquisition of eight beer brands from Anheuser-Busch that it had announced over the summer.
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Cannabis firm Tilray broadens footprint in brewery business, closing deal with Anheuser-BuschThe companies did not disclose financial details of the deal, but Tilray said earlier this month when it announced the acquisition that it would be paying cash
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